Kevin Muscat has been appointed caretaker coach for the next match, while a new permanent head coach is expected to be named within the next 48 hours.
In announcing Durakovic's sacking at a press conference today, Victory chairman Anthony Di Pietro said: "After 14 games the club is in a position which is not acceptable and change is required. With 13 games left, we still think the club can have success this season.
"The appointment of a new head coach is imminent and an announcement will be made in the next 24 or 48 hours."
When asked how the club could be so far down the path towards a new head coach when Durakovic was sacked only today: Di Pietro said: "Mehmet has been under review as a coach for some time and there has been no rash decision-making."
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Melbourne Victory sack Durakovic 
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