The 44-year-old was initially in charge of the club between October 2012 and May 2013 before leaving at the end of the 2012-13 campaign.
However, Corini returned in November last year and guided the team to 16th as they narrowly avoided relegation to Serie B.
Chievo have failed to build on that escape this season, losing five of their opening seven league matches, including a 3-0 reverse at Roma on Saturday.
The Serie A club confirmed the news of Corini's departure in a brief statement on Sunday.
"AC Chievo Verona announces that it has relieved as coach of the first team Eugenio Corini," it read.
"The company expresses to the coach warmest thanks for his commitment, professionalism and dedication always being made and best wishes for the rest of his career."
