The club sit second bottom of the top flight, having won just two of their opening 12 games this season.
Following a glittering playing career with the likes of Real Madrid and Chelsea, Makelele spent time as a coach at Paris Saint-Germain before taking his first managerial post at Bastia at the end of last season.
However, after less than six months in charge, Bastia are now on the hunt for a new head coach after confirming the former France midfielder's departure on Monday.
"The directors' committee of SCB informs all of its supporters and partners that from this day, Claude Makelele is no longer the head coach of SC Bastia," read a statement on the club's official website.
"As of this afternoon, training will be handled by Ghislain Printant and Herve Sekli until the appointment of the next head coach."
Makelele admitted on Monday afternoon that he made mistakes at the club but remains insistent his impact was a positive one and says he will take the experience into his next job.
He told L'Equipe: "The adventure stops. These are the hazards of the coaching profession. I accept that. I would like to thank the club for giving me confidence. It was a pleasure to lead this team. I am sure they will do fine because there is quality. I know that CBS will remain in Ligue 1.
"The club explained their decision. I totally understand. These are the hazards of the job. It will strengthen me in that trade. With that, I'll learn even more and won't make the same mistakes in the future."
Makelele's final game in charge of Bastia came on Saturday, when Sambou Yatabare's goal gave Guingamp a 1-0 win at the Stade du Roudourou.
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