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The former Celtic striker took over in March and helped retain the club's EFL status last season.
However, a poor start to the current League Two campaign, with only one league victory out of ten matches, has led to his dismissal.
Tuesday night's 3-2 home defeat to Shrewsbury Town has left Crawley at the bottom of the table.
The club has confirmed that Kazim-Richards and assistant Julian Gray have been relieved of their duties with immediate effect. Director of football, Erdem Konyar, has also departed.
A club statement said: "Crawley Town Football Club can confirm that head coach Colin Kazim-Richards and assistant head coach Julian Gray have been relieved of their duties with immediate effect."
It continued: "The club would like to place on record its sincere thanks to Colin and Julian, who joined during a challenging period and played an important role in securing the club's EFL status at the end of last season."
Kazim-Richards, a former Turkey international, retired from playing in 2023 after a career that spanned 18 clubs across eight countries.
He joined Celtic on a two-and-a-half-year deal in February 2016, scoring twice in 13 appearances before departing at the end of that season.
His career included stints at Sheffield United, Brighton, Blackburn, Derby, and QPR, as well as Fenerbahce, Galatasaray, Feyenoord, Toulouse, and Olympiacos.
After the defeat to Shrewsbury, Kazim-Richards was asked about his future.
He said: "If I felt like I couldn’t and if what we gave the players was not enough, then I would definitely think about it."