He becomes the second Premier Division manager to leave their post this week
Sligo Rovers have parted ways with manager Dave Robertson, having won just one of their opening seven Premier Division games.
The club, who made the announcement on Tuesday afternoon, sit second from bottom in the league and are just two points above Galway United.
After drawing 1-1 with Galway on Friday night, the two parties have mutually decided to part ways.
"Everyone at Sligo Rovers would like to thank Dave for all of his hard work, dedication and commitment during his time as our manager," chairman Martin Heraghty said in a statement this afternoon.
"He took over after a difficult season in 2015 and led us to a very creditable fifth place finish last year and qualified for the IRN-BRU Scottish cup in the process.
"I know that Dave has taken Sligo Rovers to his heart and will continue to be very supportive of club, staff and players moving forward.
"We wish Dave the very best of success in his future managerial career."
Declan McIntyre will take temporary charge of first team duties and the club will now begin the search for a new manager.
There is increased pressure on clubs this season to avoid relegation, with the shrinking size of the Premier Division from 12 teams to a reduced 10 teams from next season.
This means the bottom three teams will be relegated and just one will come up from the First Division, eliminating the chance to take part in a promotion/relegation play-off as was the norm.
Currently Galway United, Sligo Rovers and Drogheda United occupy the relegation spots.