More than three dozen coaches have lost or quit their jobs since the start of the season in Romania's top flight.
Third-placed Petrolul said that Valentin Sinescu will take over until the end of the season.
Four-times Romanian champions Petrolul announced 53-year-old Rednic's departure "by mutual consent" in a statement a day after their 1-1 draw at bottom club Otelul Galati.
Much-travelled Rednic, who has coached numerous Romanian teams as well as clubs in Belgium, Saudi Arabia, Russia and Azerbaijan, blasted his players after the draw with Otelul, accusing them of a lack of professionalism.
"It's difficult to work here," Rednic, capped 83 times by Romania between 1981 and 1991, told reporters in an emotional outburst after the game.
After failing to win in five successive games, Petrolul are third in the standings with 49 points from 30 matches, 16 points behind surprise leaders FCM Targu Mures.
(Reporting by Angel Krasimirov; Editing by Toby Davis)
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