Jose Mourinho's tumultuous season at the helm of Chelsea is over with the club confirming it has sacked the Portuguese manager.

Speculation had been rife Mourinho would be fired in the days after the club's 2-1 loss to Leicester City, with the Chelsea board meeting on Wednesday (AEDT) to discuss his future.

According to a report in the Telegraph Dutch manager Guus Hiddink will take over in an interim role similar to the one he occupied at the Blues in 2009. 

The circumstances are similar to those in which Mourinho left the club after his first spell in charge in 2007-2008, when Mourinho and the club parted ways by mutual consent after an emergency board meeting.

After returning to Chelsea to the club in 2012-2014, Mourinho guided it to the Premier League title last season.

"All at Chelsea thank Jose for his immense contribution since he returned as manager in the summer of 2013," Chelsea's statement read. "His three league titles, FA Cup, Community Shield and three League Cup wins over two spells make him the most successful manager in our 110-year history.

"But both Jose and the board agreed results have not been good enough this season and believe it is in the best interests of both parties to go our separate ways.

"The club wishes to make clear Jose leaves us on good terms and will always remain a much-loved, respected and significant figure at Chelsea. His legacy at Stamford Bridge and in England has long been guaranteed and he will always be warmly welcomed back to Stamford Bridge.

"The club’s focus is now on ensuring our talented squad reaches its potential."

While Chelsea is comfortably through to the UEFA Champions League round of 16, its domestic form sees it languishing in 17th on the table, one place out of the relegation zone.

Rumours of disputes with players, the ugly falling out with the club's doctor Eva Carneiro and a number of sanctions by the football association, not to mention a lean run of form, have marred Mourinho's season.

On Tuesday, Mourinho said his players were letting him down. Three days later, he is looking for a new job.