The League Two club have begun 2013 with three straight defeats and sit 14th in the division - six points off the play-off positions.
Rochdale had earlier confirmed the end of Coleman's 12-month reign in a statement on their website.
It read: "The regrettable decision has been made following the club's recent run of poor form. This decision was not taken lightly and was made following extensive discussions at board level.
"The club would like to thank both John and Jimmy for all their hard work and endeavours over the last 12 months and would like to wish them well for the future.
"The club hope to name their replacement before we travel to Cheltenham for our next league match on Friday evening."
Former boss Keith Hill - let go by Barnsley recently - was immediately backed heavily with Sky Bet to return to Spotland, but he told Sky Sports he would not be applying for the job.
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