The message came hours before the team's home game against Peterborough in the FA Cup's third round. A match that Everton won with 2–0.
Dyche has been the manager of Everton since January 2023, but since the club recently got new owners, the USA-based Friedkin Group, rumors have been circulating that the 53-year-old Dyche would be replaced.
Everton is in 16th place in the Premier League and has only a one-point margin down to the relegation line.
Several of Dyche's assistant coaches will also be leaving.
"The process of hiring a new manager is ongoing and an update will come in due time", the club writes on its website.
In the meantime, U18 coach and former player profile Leighton Banes will take over together with current team captain Séamus Coleman.
Sean Dyche is the sixth manager to be fired in the Premier League this season. On Wednesday, Julen Lopetegui was fired by West Ham and replaced by Östersund-known Graham Potter.
Everton has been playing in the top division since 1954, but has belonged to the bottom tier in recent years.