Marcelino has been as Valencia head coach only 3 games into the La Liga season.
The 54-year-old was ignored on Wednesday after a falling out with club owner Peter Lim.
In an official statement, the club said”Valencia CF declared on Wednesday to Marcelino Garc??a Toral his dismissal as coach of the first team.
“The club would like to thank you for the commitment and work throughout your time in our own thing and wish you the greatest success for the future.”
Marcelino was appointed since Valencia boss in May 2017 however his place came under danger 12 months ago.
However, faith was maintained by the team in the former Villarreal boss and were rewarded when they ended the year by winning the Copa del Rey final against Barcelona and securing a Champions League place.
Valencia have taken four points from three matches this period and it had been reported that Lim known as club president Anil Murthy to an emergency meeting in Singapore on Wednesday.
Additionally, there are suggestions manager Mateu Alemany may be dismissed, but Valencia have left no comment about his future.
Real Madrid midfielder Albert Celades and former Barcelona, who was an assistant trainer to Julen Lopetegui at the Santiago Bernabeu last year, has been tipped to take over at the Mestalla.
Read more: footballleagueworld.com