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The club terminated the contract with head coach Javier Aguirre.
The Mexican took over the team's reins last season and helped secure their place in the top league. However, this season "Zaragoza" has only managed to earn 10 points in 16 matches and currently occupies the last 20th place in the league table.
"The situation called for quick decisions, so the contract was terminated," it said in an official statement. It is added that more information will be provided at a press conference on Friday.
"Zaragoza" also exited the King's Cup tournament in Spain, losing to the second division team "Alcorcon."
