Ince arrived in the summer from League One Milton Keynes Dons as he replaced Mark Hughes but could only manage three wins in seventeen matches.
Now with the club sat second from bottom of the table and five points adrift of safety, Rovers have decided that time was up for Ince.
"Three wins in 17 games has seen a squad, which finished seventh last season, fall to 19th position. We are currently in real danger of becoming detached from the pack," said chairman John Williams.
"The survival of the club in the Premier League is paramount and our focus now is on finding a replacement who will be able to maintain our top division status.
"Paul will bounce back, he is a fighter and we wish him well."
Early reports suggest that former boss Graeme Souness is one of the favourites to replace Ince.