The Saints find themselves in real trouble of relegation following a dreadful run of results of late.
Saturday’s 3-0 hammering away to Newcastle left Southampton fans pleading with the board to take action.
And it appears the club have taken notice, relieving the Argentinian of his duties before this week’s FA Cup clash with Wigan.
A statement released by the club this hour reads, “Southampton Football Club can today confirm that it has parted company with First Team Manager Mauricio Pellegrino.
“Assistant Manager Carlos Compagnucci and Assistant First Team Coach Xavier Tamarit have also parted company with the club.
“We would like to place on record our thanks to Mauricio, Carlos and Xavier for their efforts during their time with Southampton, and wish them well for the future.
“The club will look to appoint a new management team as soon as possible, with the search for a replacement already underway.”
Following Saturday’s defeat, Pellegrino admitted that he “observed some players who gave up”.
Southampton are now looking for their fifth manager since 2013.
Despite their constant changing of managers, Southampton have not finished below 14th in the table in their last five seasons.
The club sit 17th in the Premier League, one point above the relegation zone.