Georgetown coach John Thompson III was fired on Thursday, according to university president John J. DeGioia.
The Hoyas were just 14-18 this season, including 5-13 in Big East play, and missed the NCAA Tournament for the third time in four seasons.
Thompson, the son of legendary Hoyas coach John Thompson Jr., went 278-151 in 13 seasons as coach.
"It is with profound regret and deep appreciation that I informed John Thompson III this morning that the University will no longer be retaining his services as our head men's basketball coach," DeGioia said in a statement. "For 13 years, he has been one of the elite coaches in college basketball.
"His performance as a coach has been exceptional, and he has served our community with remarkable distinction and integrity, sustaining our commitment to the academic performance of our students and providing them with the very best preparation for their lives beyond the Hilltop.
"Our tradition of excellence as a University will forever be inextricably linked with John and his family."
DeGioia said a national search for a new coach will begin immediately.
Georgetown reached the NCAA Tournament eight times during Thompson's reign, including a Final Four appearance in 2006-07 when the club went 30-7.
The Hoyas posted winning records in each of Thompson's first 11 seasons but failed to do so in either of the past two seasons. His final team finished ninth in the 10-team Big East.
"I am proud of what my players have accomplished on the court and how they are thriving since leaving Georgetown," Thompson said in a statement. "Georgetown Basketball has been a part of my life since 1972, which makes this moment even more impactful but I look forward to my next chapter."
Before his stint with Georgetown, Thompson went 68-42 in four seasons as Princeton's coach from 2000-04.