Shrewsbury, who lost 2-1 at the One Call Stadium earlier in the season, have won just one win in their past 12 games in all competitions.
The Shrews are second-bottom in the table and are currently three points adfrift of safety.
“It is with regret that Shrewsbury Town can confirm we have parted company with head coach Paul Hurst and assistant boss Chris Doig,” Shrewsbury announced in a club statement.
“However, after a run that has seen us win just two of our 19 games this season (a win rate of 10.5 per cent), the board feels a change is needed.
“The chairman would like to thank both Paul and Chris for all their hard work over the past 11 months.
We would also like to thank them for the outstanding work they did in their first spell.
“It was that success that led to the Chairman taking responsibility for re-hiring Paul and Chris earlier this year.. And everyone at the football club is hugely disappointed their second spell hasn’t worked out and we find ourselves in our current position.”
Hurst was re-appointed as manager in January 2024 having previously led the club to the League One play-off final in 2018.
Hurst initially kept Shrewsbury clear of relegation from League One last season as they finished four points above the drop zone.
But this season the Shropshire club have managed just two league victories and lost 14 of their 19 matches in all competitions.
Shrewsbury’s next League One match is away at rock bottom Burton Albion on Saturday, 9 November.
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