Having narrowly missed out on a place in the Championship playoffs during 2023-24, the Tigers hierarchy decided to part ways with Liam Rosenior.
At a time when the previous incumbent of the home dugout at the MKM Stadium moved to Strasbourg, Hull opted to appoint Walter as his replacement.
However, the decision has proven to be a disaster, the German coach winning just three of his 18 matches in charge in all competitions.
With Tuesday's 2-0 defeat at home to Sheffield Wednesday seeing Hull drop into the relegation zone, Walter has been removed from his role.
Who will replace Walter?
A club statement read: "Hull City can confirm we have parted company with head coach Tim Walter with immediate effect.
"Assistant head coaches Julian Hubner and Filip Tapalovic have also left the club.
"First-team coach Andy Dawson will take interim charge while the club conducts a thorough recruitment process for a permanent successor.
"We would like to thank Tim, Julian and Filip for their efforts during their time at the MKM Stadium and wish them well for the future."
Dawson was last in interim charge of Hull between September and November 2022, accumulating nine points from his seven matches on that occasion.
Walter can have few complaints
The three matches that Walter's won were all in succession, Stoke City, Cardiff City and Queens Park Rangers all being defeated with 10 goals being scored in the process.
Nevertheless, just three points from the next nine games have followed, including four defeats in a row despite having not conceded more than twice in any of those games.
Next up for Hull is a trip to in-form Middlesbrough on Saturday afternoon.