The Belgian was dismissed following the 2-0 home loss to St Mirren on Saturday (22.02.25) which leaves the Gers trailing 13 points behind city rivals Celtic in the Scottish Premiership title race.
A statement issued by the club on Sunday (23.02.25) evening read: "Rangers Football Club can confirm it has tonight parted company with men’s first-team manager, Philippe Clement.
"The club would like to put on record their sincere thanks to Philippe for his hard work and dedication during his spell in charge. A further update from the club will Âfollow in due course."
Clement took over as Rangers boss in October 2023 and led them to victory in the Scottish League Cup just two months into the job.
He also hauled them into title contention last season but they faltered in the closing weeks of the campaign and eventually ended up eight points behind Celtic - who also defeated them in the Scottish Cup final.
However, this season has been disappointing as they have been unable to keep pace with the Bhoys in the league and are set to end the campaign without a domestic trophy after a humiliating Scottish Cup defeat to Championship side Queen's Park.
The Gers do remain in the Europa League and chief executive Patrick Stewart had recently indicated that the club was unlikely to make a managerial change whilst their hopes on the continent were still alive.
He said: "We have been underperforming for several seasons now and that's not down to a manager. We have changed the manager and it has not made a difference.
"Until we sort the root causes, then it's akin to trying to fix a broken house and starting with the ceiling instead of starting with the foundations.
"For all that the Queen's Park result was disastrous, we do also have to give credit to Philippe and the team for the Europa League run. I don't want to take a step that would put further progress in the Europa League at risk."