Jol entered Fulham in June of 2011 but things did not work out well for him.
Craven Cottage boss, Shahid Khan, said the fans deserve better with a better team.
Rene Meulensteen, former Manchester United first team coach, will take over from Jol for the interim period.
Rene said Fulham has to buy new players when the January transfer window opens if it wants to remain in the Premier League.
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