The Thrashers were 35-34-13 on the year, finishing 10th in the NHL Eastern Conference and missing the playoffs by five points.
Anderson had been the Atlanta head coach since June 2008, compiling a 70-75-19 record. Before taking over the Thrashers he coached the team's primary minor-league affiliate, the Chicago Wolves, building a 611-343-99 record over 11 seasons.
Also let go Wednesday were assistant coaches Randy Cunneyworth, Todd Nelson and Steve Weeks.
The team also announced that Don Waddell was promoted to president and Rick Dudley was named general manager. Waddell is expected to handle business operations while Dudley will be responsible for hockey operations.
Dudley has been associate general manager for Atlanta since last June. He previously served in the front offices of the Chicago Blackhawks, Florida Panthers, Tampa Bay Lightning and Ottawa Senators.
2014: The Year in Music [PHOTOS]