Bolton have had a difficult season and are currently sitting bottom of the Championship and only 11 points from safety.
On Tuesday, the club announced that the Former Celtic boss Lennon has exited Bolton by mutual consent. Lennon joined Bolton in October 2014.
A statement was made on the club's website which read, "Bolton Wanderers can announce that the club have today, Tuesday 15 March, parted company with manager Neil Lennon by mutual consent,"
"All at Bolton Wanderers would like to thank Neil for his contributions during his time at the club."
"Academy manager Jimmy Phillips will take charge of the first team on an interim basis."