
In a club statement, Jardim applauded the Ligue 1 campaigners, in his four year stay with them.
ESPN reports that the club, where Henry won the Ligue 1 title in the 1996-97 campaign, have chose to sack Leonardo Jardim.
Speaking to the club's official website, Jardim said: "I'm grateful and proud to have been AS Monaco coach for more than four years". If he leaves the Belgium team we will be sad, but I think for him maybe it's a good time to go.
Henry snubbed a move to Aston Villa last week following Steve Bruce's departure in favour of returning to his homeland.
Henry was youth player with the club and scored seven goals in the 1997-8 Champions League as another talented Monaco team, this one coached by Arsene Wenger, reached the semi-finals, where they lost to Juventus.
However, with only one win from nine matches, questions were raised on whether Jardim was the right person to take the club, going forward.
Henry, who had been courted by Championship side Aston Villa, is now assistant to Roberto Martinez with the Belgium national team.
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Monaco have sacked manager Leonardo Jardim amid reports linking former Arsenal and Barcelona striker Thierry Henry with the job.
Vadim Vasilyev, Monaco's general manager, thanked Jardim for transforming the club into a well-respect European outfit.
Jardim took over at Monaco in 2014 and guided them to their first league title in 17 years in 2016/17, during which Kylian Mbappe was the breakout star for the side.
"Reacting to the Henry rumours, the defender was quoted as saying by French sports daily L'Equipe: "[He was] an extraordinary player and a legend at Arsenal.
Dean Smith has instead been appointed as the new head coach of Villa, with John Terry named as his assistant.
Henry was part of the Belgium technical crew that won bronze medal at the 2018 FIFA World Cup tournament staged in Russian Federation.
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