The historic Essen-based giant's shoes will be filled from September 23 by MTU Aero Engines, which makes components for aircraft motors.
Thyssen was a DAX member from the index's creation in 1987, becoming even weightier after a merger with rival Krupp in 1999.
But its shares have plummeted more than 60 percent since 2018, with the European Commission's decision to block its merger with India's Tata in June worsening the slide.