Dunga has been sacked as Brazil head coach after their shock exit from the Copa America.
Dunga, who captained Brazil to World Cup success in 1994, was named national coach for a second time in 2014.
But the team were knocked out in the group stage of the Copa America for the first time since 1987 as they lost 1-0 to Peru in Massachusetts on Sunday.
Dunga, 52, had previously been in charge from 2006 to 2010, winning the Copa America in 2007.
Corinthians manager Tite is the favourite to succeed him.
The 55-year-old led the club to the Brazilian Serie A title in 2011 and 2015, as well as the Copa Libertadores and World Club Cup in 2012.
Whoever succeeds Dunga will lead Brazil's under-23 squad, including Barcelona forward Neymar, in August's Olympic Games in Rio de Janeiro.
Dunga's replacement will also take over a Brazil side which has made a poor start to qualification for the 2018 World Cup in Russia, occupying sixth place in the South American qualifying group.
Subscribe to the BBC Sport newsletter to get our pick of news, features and video sent to your inbox.