كتب : Omar AbdelAziz
The three-time Asian champions were stunned 2-1 by outsiders Syria, who had striker Abdul-Razak Al-Hussein to thank for scoring a match-winning brace in the Qatar finals.
Peseiro, who has been in charge of the Saudi team since February 2009, was replaced by local manager Nasser Al-Johar.
Al-Johar, a former Saudi defender, was the man who made way for Peseiro two years ago.
Back in the 1998 World Cup, Saudi Arabia sacked Brazilian Carlos Alberto Parreira during the tournament and replaced him with Mohamed Al-Kharashy on a temporary basis.
The Saudis have an extraordinary record in terms of changing their management staff, having made 12 changes during the past decade.