Mourinho took charge in June 2013, his second spell with the club, taking Chelsea to the Premier League title last season.
Recently, Mourinho, 52, has looked a troubled man, none more so during the Champions League tie in Kiev when Chelsea drew 0-0 at the Olympic stadium in October.
We imagine it's pretty similar to the range of emotions Jose is likely going through right now as he digests the bad news.
Chelsea confirmed the sacking on Tuesday, a club statement thanking the Portuguese for his "immense contribution" to the club. Here's the club statement in full:
Chelsea Football Club and Jose Mourinho have today parted company by mutual consent.
All at Chelsea thank Jose for his immense contribution since he returned as manager in the summer of 2013.
His three league titles, FA Cup, Community Shield and three League Cup wins over two spells make him the most successful manager in our 110-year history. But both Jose and the board agreed results have not been good enough this season and believe it is in the best interests of both parties to go our separate ways.
The club wishes to make clear Jose leaves us on good terms and will always remain a much-loved, respected and significant figure at Chelsea. His legacy at Stamford Bridge and in England has long been guaranteed and he will always be warmly welcomed back to Stamford Bridge.
The club’s focus is now on ensuring our talented squad reaches its potential.
There will be no further comment until a new appointment is made.