Sportsnet and TSN reported that general manager Craig MacTavish will take over behind the bench on an interim basis.
Edmonton (7-19-5) has the NHL's worst record entering Monday's games. The Oilers, who recently endured an 11-game losing streak, have lost four in a row, 15 of their last 16, and 19 of their last 22.
Eakins's job was thought to be in jeopardy for some time, but MacTavish had placed the blame on the players, saying their "accountability" need to improve during a news conference earlier this month.
Eakins, 47, was in his second season with the Oilers. In 2013-14 the team went 29-44-9 — the third-worst mark in the league.
He's the second NHL head coach to be fired this season. Ottawa dismissed Paul MacLean a week ago.