The former Arsenal and Juventus midfielder was sacked in the wake of the Eagles’ 1-0 defeat at the Amex on Wednesday evening.
Palace have endured a dismal start to 2023. They have yet to win this calendar year, and are just three points clear of third-from-bottom AFC Bournemouth, who have a game in hand.
In a statement posted on Crystal Palace’s website, chairman Steve Parish said: “It is with enormous regret that this difficult decision has been made.
“Ultimately, results in recent months have placed us in a precarious league position and we felt a change is necessary to give us the best chance of retaining Premier League status.
“That said, Patrick’s impact since joining us in the summer of 2021 has been significant, and he is held in the highest regard by myself, and all of his colleagues.
“He led the team to a Wembley FA Cup semi-final and respectable 12th placed finish last season playing some exciting football, which was a challenging and crucial campaign for the club given the changes we made to the squad prior to his arrival.
"Patrick has given his all to the club, and we all thank him and his team for their service.
“We also wish Patrick, Osian [Roberts], Kristian [Wilson] and Saïd [Aïgoun] the very best for their futures.”
Here’s who could be next man in charge at Selhurst Park, courtesy of Paddy Power.
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1. Next Crystal Palace manager: Ex-Liverpool, Newcastle, Leeds and Brighton men in the race with surprise favourite confirmation - gallery
Brighton & Hove Albion’s bitter rivals Crystal Palace have parted ways with manager Patrick Vieira Photo: PAUL ELLIS/AFP via Getty Images
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2. Roy Hodgson - 11/10
Roy Hodgson is the bookies' early favourite to take the job at Selhurst Park following a successful spell at the Eagles between 2017 and 2021 Photo: DANIEL LEAL/AFP via Getty Images
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3. Lucien Favre - 15/2
Swiss manager Lucien Favre is out of work following his dismissal from French club OGC Nice in January Photo: UWE KRAFT/AFP via Getty Images
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4. Ralph Hasenhüttl - 9/1
Ralph Hasenhüttl spent four years at Southampton before his dismissal in November 2022 Photo: Alex Davidson/Getty Images