"Everton Football Club can confirm that manager Marco Silva has left the Club," Everton said in a statement.
"Duncan Ferguson has taken temporary charge of the first team and will manage the side for the game against Chelsea on Saturday".
David Moyes has been linked with a return to Goodison as Silva's successor as a stop-gap until the end of the season.
A run of eight defeats in 11 games sealed Silva's fate after the club assembled a squad that was expected to challenge for European qualification at the other end of the table.
Everton fans called for the Portuguese to go after a 2-0 home defeat to Norwich on November 23.