A dreadful run of form has left the club in 19th position in the division and despite leading Torquay to the League Two play off final last season Buckle was unable to turn the Pirates' fortunes around.
A statement on the club's official website read, "Following a discussion between the directors following the Barnet game it was decided that Paul would no longer be in charge of first team affairs."
Chairman Nick Higgs discussed the decision to give Buckle the boot, "Although we are aware that we need to find stability at the club, we felt we could not go any further with the current situation as the threat of relegation was becoming too real."
"We started the season with a great deal of hope for a successful campaign, but this has not been the case so far, despite promising early form."
Buckle took the reigns at Rovers in the summer following their relegation from League One. He oversaw twenty four games in charge resulting in six wins, five draws and thirteen defeats.
Assistant manager Shaun North will be responsible for first team affairs on a caretaker basis until a replacement can be found.
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