Spurs have lost five of their past seven Premier League matches.
They are eighth in the table and 10 points behind leaders Chelsea.
“I know how much Nuno and his coaching staff wanted to succeed and I regret that we have had to take this decision,” said managing director of football Fabio Paratici.Advertisement
The Portuguese, 47, was named Spurs manager on a two-year contract in June after four years at Wolves.
“Nuno is a true gentleman and will always be welcome here. We should like to thank him and his coaching staff and wish them well for the future,” added Paratici.