The decision was announced by St Cuthbert Wanderers on their Facebook page by Tracey McGarrie, interim chairwoman of the South of Scotland League side.
The statement said: “St Cutbhert Wanderers have, earlier this evening, relieved manager Rab Cameron of his duties with immediate effect due to irreconcilable differences.”
“We would like to thank Rab for all his hard work over the last two and a half years and wish him very success with his future endeavours.”
Raymond Gordon and Craig Fraser will handle all team matters from this point, the statement added.
On Friday night Saints won the Cree Lodge Cup by beating Heston Rovers 5-2 at Meadow Park and last season Cameron took Saints to the South League championship for the first time in 20 years.
Saints also won the Cree Lodge Cup and the Haig Gordon Memorial Trophy last season.
Saints are currently sitting third in the league eight points behind leaders Wigtown with five games left.