Defeat at home to relegation rivals Southampton last weekend confirmed the R's joint-worst start to a Premier League season – equal to Everton's 1994-95 opening - with a section of supporters holding banners calling for the appointment of former Tottenham boss Harry Redknapp.
Assistant manager Mark Bowen and first-team coach Eddie Niedzwiecki will take charge of the team's trip to face Manchester United on Saturday.
A statement on the club's official website read: "This decision has been taken after careful consideration by the Board of Directors, following numerous meetings over the last few days.
"The Board of Directors wish to thank Mark for his commitment, hard work and dedication in his ten months in charge.
"Mark has shown integrity and professionalism throughout his time here, but ultimately the circumstances we find ourselves in have left the Board of Directors with very little choice but to make a change.
"The Board will now be working actively to put a new managerial structure in place as soon as possible.
"Mark Bowen and Eddie Niedzwiecki will take charge of the R's trip to Manchester United in the Barclays Premier League on Saturday afternoon."
Harry Redknapp has been appointed as his replacement, and he will take formal charge of the team on Sunday
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