By SABC Sport
2nd June 2023
The 46-year-old has paid the price for a poor run of form, with the 1-0 defeat to New York Red Bulls proving the final straw.
Neville, who was appointed in January 2021 after his resignation as England Women boss, leaves the club bottom of the Eastern Conference following four successive defeats.
Co-owner David Beckham, who is Neville's ex-Manchester United and England team-mate and friend, said it was the right time to make the change.
"When we appointed Phil we knew he would give Inter Miami his all and I have watched him work incredibly hard and with real commitment towards the ambitions we set out for the club," he said on the club's official website.
"He and his family embraced Miami and he has devoted himself to the drive to bring success to the city and to our fans. Phil has made a real contribution to the culture of our club with his qualities as a leader and knowledge as a coach.
"Sometimes in this game we have to make the toughest decisions and sadly we feel the time is right to make a change. I want to personally thank Phil for his hard work, his passion for our club and for his integrity as a person."
Neville attracted attention recently after he swore at a reporter during a press conference, having been interrupted during an answer.
He said: "I would like to thank the Inter Miami CF ownership group for their trust and making me a part of this project; the players and staff for their impressive commitment, dedication and hard work; and the fans for their unwavering support for the club since day one.
"I'm grateful to have played a part in the growth of this club and wish Inter Miami CF all the best in the future."