The 50-year-old has become the second Bundesliga head coach to lose his job this season with former Hoffenheim boss Markus Gisdol the favorite to replace him at the helm.
Bruno Labbadia has been sacked as Hamburg head coach after the club's poor start to the 2016-17 season.
The 50-year-old was in his second spell in charge of the club, having taken over in April 2015.
After successfully keeping Hamburg up in the relegation playoffs that season, Labbadia led the club to a 10th-place finish last term.
However, Hamburg only has one point from the club's first five Bundesliga matches this time around, with the last straw proving to be the last-gasp 1-0 home loss to champion Bayern Munich on Saturday.