The Italian's last game was Wednesday's 2-0 defeat by Southampton, which left the Cottagers 10 points from safety with 10 league games remaining.

Ranieri, 67, took over in November after the sacking of Slavisa Jokanovic.

Ranieri won only three of his 17 games as manager.

It included a 3-2 victory over Southampton his his first game, but 11 defeats have followed including an FA Cup third-round exit against League Two Oldham.

Chairman Shahid Khan said in a statement: "Claudio walked into a difficult situation, inheriting a side that gained only one point in its prior eight matches, and he provided an immediate boost by leading our club to nine points in his first eight matches as manager.

"Though we were unable to maintain that pace thereafter, I am grateful for his effort. Claudio leaves Fulham as our friend and he will undoubtedly experience success again soon.

"Scott's immediate assignment is merely to help us stabilise, grow and rediscover ourselves as a football club.

"If Scott can answer that challenge, and our players respond to the opportunity, perhaps victories will follow in the months ahead."

Ranieri led Leicester City to a miraculous Premier League title triumph in 2016, but was dismissed by the Foxes just nine months later and was in charge for a season at French Ligue 1 sides Nantes.

He took over on a "multi-year" contract at Fulham when the Cottagers were bottom of the table with five points from their opening 12 matches, but failed to oversee an upturn in fortunes.

Ranieri added: "I am obviously disappointed with the recent results and that we could not build on the good start we made following my appointment. Finally, I would like to thank the club, the players and the fans for the support they have given me during my time at the club."