Bruce Feldman of FOX Sports reported on Sunday that Jones has informed his staff he is being let go.
Several reports say Tennessee has fired Jones after five seasons as the Vols' head coach.
The Vols fell to Missouri on Saturday by a score of 50-17.
This is Jones' fifth season on the job and shaping up to be his worst since he went 5-7 upon taking over in 2013. That placed Tennessee 0-6 in the conference and 4-6 overall.
The Vols were not only unable to improve or hold serve on the results of the past two seasons, but took a major step back this year. Jones went 34-27 during his tenure.
Tennessee has never had a winless SEC record in 121 years playing football, but must beat LSU and Vanderbilt to prevent that from happening.
OJ Simpson reportedly booted from Las Vegas hotel after drunken disturbance
Security reportedly showed up and escorted Simpson out of the hotel, and he has been permanently banned from the Cosmopolitan. The former actor was acquitted of the double-murder of his ex-girlfriend Nicole Brown and her pal Ron Goldman in 1995.
Unfortunately for Jones, his time at Tennessee was also marred by an array of bad losses, including a 24-21 defeat at the hands of SC in 2016 and a 45-34 loss to Vanderbilt later that season.
A variety of names have been thrown around to replace Jones as the 24 coach of the Volunteers, including former OR head coach Chip Kelly, Purdue head coach Jeff Brohm, Louisville head coach Bobby Petrino and Memphis head coach Mike Norvell.
Tennessee (4-6, 0-6) managed just 285 total yards.
Associate head coach Brady Hoke, who coaches the defensive line, has been named as interim head coach and will finish the season. Now Tennessee can officially join rival Florida on the coaching carousel in the pursuit of its next coach. Hoke has a career coaching record of 78-70 between three jobs with Ball State, San Diego State and MI. One month later, Tennessee lost 29-26 at Kentucky, which represented just the second time the Vols had fallen to the Wildcats in their last 33 meetings.
Regardless of preseason projections, a 4-6 overall record and 0-6 mark in the SEC was not what anyone wanted to see in Knoxville.
"We expect our coach to have the dynamics that would enable him to lead us to where we know Tennessee football can and should be", Currie said.