The 60-year-old was in his second spell as boss, having managed the club between 1995 and 2000.
Hearts drew with Rangers 1-1 in their opening game of the Scottish Premier League season, although they were beaten 1-0 by Dundee United at the weekend.
The Hearts squad were told of Jefferies's departure this afternoon.
Restore Data
| Team | P | W | D | L | F | A | GD | PTS | |
| 1 | Celtic | 23 | 19 | 3 | 1 | 64 | 11 | 53 | 60 |
| 2 | RangersRangers | 22 | 13 | 5 | 4 | 41 | 18 | 23 | 44 |
| 3 | Dundee UnitedDundee Utd | 23 | 10 | 7 | 6 | 31 | 24 | 7 | 37 |
| 4 | Aberdeen | 22 | 10 | 5 | 7 | 32 | 30 | 2 | 35 |
| 5 | Motherwell | 23 | 9 | 4 | 10 | 28 | 37 | -9 | 31 |
| 6 | Hibernian | 23 | 7 | 8 | 8 | 34 | 36 | -2 | 29 |
| 7 | Dundee | 23 | 7 | 6 | 10 | 37 | 41 | -4 | 27 |
| 8 | St Mirren | 23 | 8 | 3 | 12 | 27 | 38 | -11 | 27 |
| 9 | Kilmarnock | 23 | 6 | 7 | 10 | 25 | 37 | -12 | 25 |
| 10 | Ross County | 23 | 6 | 7 | 10 | 23 | 42 | -19 | 25 |
| 11 | Hearts | 23 | 6 | 6 | 11 | 25 | 31 | -6 | 24 |
| 12 | St Johnstone | 23 | 4 | 3 | 16 | 25 | 47 | -22 | 15 |
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