Falconer Juan Bernabe shared the images on his private social media accounts after undergoing surgery for a penile implant, which he said was for non-medical reasons.
Bernabe also gave an interview to controversial Italian radio show La Zanzara on Monday and elaborated on his reasons for undergoing the procedure.
He said he felt "very proud" and "more masculine" being part of Lazio.
The Serie A club clearly did not feel the same, firing the Spaniard shortly afterwards.
"Shocked to see the photographic images and video of Mr. Juan Bernabe and to read the statements that accompanied them, Lazio announces that it has stopped, with immediate effect, all relationship with this person, given the seriousness of his behavior," the capital club said in a statement.
"The club realizes - and shares - the pain that the fans will feel at the loss of the eagle in the next home games, but believes that it is not possible to be associated … with a person who, by his own initiative, has made the continuation of the relationship unacceptable."
The eagle - a bird that symbolises ancient Rome - traditionally flies over Stadio Olimpico before home games.
Bernabe said he had no regrets about sharing the images.
In 2021 Lazio suspended Bernabe after he was filmed performing a fascist salute at the end of a match and chanting "Duce, Duce", the name used to praise former fascist Italian leader Benito Mussolini.
"I admire him so much," Bernabe added in Monday's radio interview.
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