The former Inter Milan defender was dismissed with his team bottom of Serie A and without a win so far this season. They have six draws and eight defeats from 14 games and were beaten 3-2 by Serie A debutants Frosinone on Sunday.
"The club offers our thanks to Andrea and his staff for having, through dedication, unquestionable professionalism and intense passion, shared joys, sorrows and, above all, victories on and off the field, who have brought the team from the Lega Pro to the big stage of Serie A," Verona said in a statement.
Mandorlini took over in November 2010 when Verona, who won their only Serie A title in 1985, were enduring their fourth year in the third division, known as Lega Pro.
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He helped them win promotion via a playoff the same season and two years later, he guided them out of Serie B and back to the top flight after an 11-year absence.
Their return was followed by two respectable midtable finishes as they ended their campaigns in 10th and 13th.
The 55-year-old Mandorlini, who spent seven seasons at Inter in his playing days, was previously coach of Spezia, Vicenza, Atalanta, Bologna, Padova, Siena, Sassuolo and Romanian side CF Cluj.
There have also been coaching changes this season at Bologna, Sampdoria, Palermo and two at newcomers Carpi, who dismissed Fabrizio Castori in September and brought in Giuseppe Sannino but then reversed the change one month later.
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