The Canadian Football League club on Monday relieved Reed of his duties after the Eskimos finished the season with a 4-14 record.
"We thank Kavis for his dedication and hard work over the past three seasons and wish him the best in the future," Eskimos general manager Ed Hervey said in a statement released by the team.
Edmonton did prevail in Reed’s final game on the Eskimos’ sideline, defeating Saskatchewan 30-26 on Saturday.
Reed, a defensive back with Edmonton from 1995 to 1999, was named the 19th head coach in franchise history on Dec. 10, 2010.
He was a coach of the year finalist in his first campaign in 2011 after the Eskimos hosted their first playoff game since 2004.
In 2012, the eventual Grey Cup champion Toronto Argonauts defeated Reed and company in a crossover East Division semfinal.
Hervey, who hasn't named a replacement for Reed, will address the media Monday at 4 p.m. ET.