"After careful consideration, we've decided to make a change to the leadership of our men's basketball program," Commodores athletic director Malcolm Turner said.
Turner has only been on the job since last month. The meeting to inform Drew of the decision was his first with the now-former coach, a source told Stadium's Jeff Goodman.
Drew tweeted a statement later Friday thanking the Vanderbilt community for its support.
Drew compiled a 40-59 record in three seasons with Vanderbilt. The Commodores' 2018-19 campaign went sideways after point guard Darius Garland was lost for the season due to a knee injury in November. The team went 9-23 on the year and 0-18 in SEC play.