Pinto had been in charge of the Portuguese giants for just eight months and has been replaced by Oceano da Cruz as the interim coach.
"Sporting Clube de Portugal - Futebol, SAD's Board of Administration has announced that Ricardo Sa Pinto is no longer the club's first-team coach," reads a statement on the club's official website.
"Sporting Clube de Portugal - Futebol, SAD thanks Ricardo Sa Pinto for his professionalism as a fan, employee and shareholder and would like to highlight the dedication that he has shown as Sporting's first-team coach.
"In light of his dedication to Sporting Clube de Portugal, the board of administration has invited Ricardo Sa Pinto to continue with the club in a role that will be announced should it be accepted."
Sporting are five points off the pace in the Portuguese Primeira Liga after five rounds of matches and are at bitter rivals Porto on Sunday.