One win in nine games made the 42-year-old's position untenable at the Rosario club, which has already been linked with former boss Americo Gallego as it toils in the Apertura.
Club manager Gustavo Dezzotti communicated the decision via an official statement in the early hours of Tuesday morning, bringing to an end Torrente's five-month stint at the Rosario institution. The former Cerro Porteno coach leaves Newell's in 16th place in the Apertura, with just one win from the first nine games.
Dezzotti explained that the trainer told directors of his intention to quit almost immediately after the final whistle on Monday evening and the board reluctantly accepted.
"We spoke about it with the directors and we decided to accept the trainer's resignation," the manager told the club's official website.
He also admitted that there was no replacement lined up to replace Torrente, as there was no 'Plan B' if he decided to quit. Nevertheless, early rumors link the club with Newell's favourite Americo Gallego, currently out of work after an undistinguished spell with Colo Colo.