Amato, who has posted a 49-37 overall record and 25-31 mark in the ACC during his seven years as head coach, finished this season with a 3-9 mark and failed to qualify for postseason play for the second time in three years.
"No Wolfpack fan can question the excitement and enthusiasm that Chuck Amato brought to the NC State football program when he came here in 2000," said Fowler. "His dreams have become our dreams and that has translated itself into our great new facilities, record ticket sales and five bowl appearances in seven years.
"However, because the results on the field in two of the last three seasons have fallen far below where we feel our program should be at this point, we have decided to take the program in a new direction."
NC State qualified for a postseason bowl each of Amato's first four years at NC State, earning victory in three of those contests.However, the Wolfpack finished with losing records in 2004 and 2006.
Amato had three years remaining on his contract.
"Chuck Amato has been a part of Wolfpack football for more than four decades and as a head coach has raised our expectations and goals," said Chancellor James L. Oblinger. "We appreciate everything that Chuck has done for the program and our student-athletes. We wish him all the best in the future; he will always be a member of the Wolfpack family."
Fowler added that the search to find Amato's replacement will begin immediately.
"Our search will be national in scope and we will begin the process through a search firm very quickly. I ask that all Wolfpackers join together in supporting our student-athletes and staying behind our program."
Statement from Chuck Amato:
"When I came to North Carolina State University, I set my dreams very high," said Amato. "My vision was to take this program to places that it had never been before in 100-plus years of playing football. We really don't know how long or how difficult it is to be able to attain those types of goals because we've never been there before in football.
"I didn't come here to use this job as a stepping stone like many others have or could. I wanted to surround myself with people who would help me stretch my vision and not choke my dreams. This is obviously a disappointing decision for me, but I would never do anything to hurt North Carolina State University. This season was a big disappointment but I'm very proud of what I accomplished during my tenure. I believe that my relentless persistence and my passion have brought an enthusiasm, an energy and an emotion that couldn't be equalled. Those same qualities are just as strong in me today as they were the first day I took this job. I haven't lost my passion, my will to succeed, or my joy."