Amkar sit third bottom in the Russian top flight following a humiliating 5-0 loss to Dinamo Moscow on Sunday that left them with just 12 points from 16 games heading into the mid-season break.
Muslin, who has managed 15 clubs in his long coaching career, took over in June but has led Amkar to a mere three league wins all season.
And, with the club now only a point ahead of the automatic relegation places, Amkar's hierarchy have decided to act and bring Muslin's time in charge to an end after less than five months.
A statement on Amkar's official website read: "We came to a unanimous decision that we would terminate Slavoljub Muslin's contract because he was not getting the results that were needed this season."
Amkar return to league action on March 6 when they host Torpedo Moscow at Zvezda Stadium.
