A 16-6 loss to Newcastle on Friday night at Suncorp Stadium in the Magic Round opener proved the final straw for Bulldogs officials, who spent the weekend discussing Barrett's future.
Barrett took the decision out of the board's hands, stepping down from the role effective immediately on Monday morning.
A three paragraph statement from the Bulldogs confirmed the news but gave no indication of the club's future plans.
Speculation Barrett's time at the club was over had increased earlier on Monday morning when the club cancelled a scheduled media opportunity with several players including captain Josh Jackson.
Bulldogs director of football Phil Gould reportedly informed the players of Barrett's decision before cancelling Monday's training session and sending them home.
Barrett leaves Belmore having won just five of 34 matches in charge, despite an expensive recruitment drive that has included the additions of Josh Addo-Carr, Matt Burton, Tevita Pangai, Matt Dufty and Paul Vaughan.
It's unclear who will be in the coach's seat for Friday's match against Wests Tigers but assistant coach David Furner or NSW Cup coach Michael Potter loom as the most likely candidates to take over in the short term.
Longer term options are thought to he headed by premiership-winning duo Paul Green and Shane Flanagan, whose son Kyle is on the Bulldogs' books.
Others drawing speculation as potential candidates include St Helens coach Kristian Woolf and Cameron Ciraldo, who is an assistant at Penrith, as Barrett was before joining the Bulldogs.
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