The former Montenegro-born Yugoslav international had been in charge for just two months, but after being handed such an emphatic defeat at the hands of Nacional Madeira.
He took over back in August when Jesualdo Ferreira left to take over at Porto.
Boavista are fourth from bottom in the table, having picked up a meagre seven points from their first seven games this season.
Porto on brink of retaining title
Former coach Jaime Pacheco, who led Boavista to their only League title back in 2001, and ex-Rio Ave coach Antonio Sousa are the early favourites to step in.
Benfica president banned
Pedro Emanuel out for season