In a club statement, Everton said: “Everton Football Club can confirm that manager Marco Silva has left the club.
“Majority shareholder Farhad Moshiri, chairman Bill Kenwright and the board of directors would like to thank Marco for his service over the last 18 months and wish him well for the future.
“Duncan Ferguson has taken temporary charge of the first team and will manage the side for the game against Chelsea on Saturday.
“The club aims to confirm a new permanent manager as swiftly as possible.”
Everton are currently 18th in the English Premier League and have lost their past three matches.
Silva is the fifth manager dismissed this season, following the recent sackings of Unai Emery, Quique Sanchez Flores and Mauricio Pochettino.
Among the potential replacements being speculated are Eddie Howe and David Moyes.
Across Silva’s 53 league matches in charge at Everton, his side won 19 matches, drew 11 and lost 23.