The 24-year-old slugger batted just .121 with a .183 on-base percentage and had a .136 slugging percentage in his last 18 games.
The Braves' 2002 first-round draft pick had a .206 batting average in June, and his average this season was .234 with eight home runs and 41 RBI in 334 at-bats.
MLB.com reported Francoeur accepted the demotion during a meeting with Braves General Manager Frank Wren and Manager Bobby Cox after Thursday's game, a 4-1 loss to Philadelphia, when he faced constant boos from Braves' fans.
"I love playing for the city," a disappointed Francoeur admitted in an interview with The Atlanta Journal-Constitution and a graduate of Parkview High School in nearby Lilburn. "But I'm disappointed with how the whole process went down."
He added that he thought he might have been warned ahead of time that the Braves were considering the move.