Ipswich had gone six years with the same manager before Mick McCarthy decided to leave the role this summer.
Despite picking Hurst to fill the post just six months ago, the club now find themselves bottom of the Championship, and decided to remove him after a dismal start to the season.
The 'Tractor Boys' are now confident they will be able to name Paul Lambert as his replacement shortly, according to 'Sky Sports'.
Lambert managed Ipswich's local rivals Norwich City in the Premier League, and has been without a job since leaving Stoke City at the end of last season.
Should he be appointed, he will have the tough task of getting the side off the bottom of the table, only winning on one occasion in 14 games.