The Bucks went 26-56 this season and their .317 winning percentage left them at the bottom of the Central Division.
"Larry Krystkowiak is a good man who worked very hard for the Milwaukee Bucks," General Manager John Hammond said on the team's Web site. "Sometimes despite even the best efforts, the results don't end up how we want them. At this time, I feel it is in the best interest of our franchise to make a change at the head coaching position. I want to thank Larry for his hard work and dedication to our team, and our entire organization wishes him and his family well."
In less than two seasons, his record was 31-69.
Krystkowiak succeeded the fired Terry Stotts on March 14, 2007 and also enjoyed a nine-year NBA playing career.