Merritt, in his eighth season as Davidson mentor, had compiled a 31-51 record at the school, including a 22-32 mark in Pioneer Football League games.
"We very much appreciate Tripp's dedication and commitment to our student- athletes and to Davidson College throughout his seven years as an assistant and eight years as head coach," Murphy said.
Associate Head Coach Brett Hayford has been tapped to serve as the team's interim head coach.
Davidson will wrap up its season with games against Valparaiso Saturday and Nov. 17 at home against San Diego.
Notable deaths of 2014 [PHOTOS]