Roma missed out on European qualification after finishing outside the top six in Serie A.
"Luis Enrique wanted first to announce his departure to the team," Baldini said, while insisting that he had done some "good" work.
"The project did not fail," Baldini added. "At a certain point it wore him out and he felt the need to stop.
"He won't be training anywhere next season. We invited him to take all the time he needed to decide, hoping right until the end that he would stay."
Enrique had said he wanted to see out his two-year contract and even stay longer, but he been severely criticised in the local media.
A successor has yet to be announced, although Baldini said "we have already studied many names".
The Italian press makes Catania's Vincenzo Montella, who took charge of Roma between February and May last year, as well as Andre Villas-Boas, sacked in February by Chelsea, the favourites for the job.
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