Coyle left Burnley in January 2010 to take up the hotseat at the Reebok Stadium on a two-and-a-half-year deal after Gary Megson was relieved of his duties.
He led the club to safety from 18th position, but failed to keep his side in the top flight last campaign.
The ex-Manchester United ace Ole Gunnar Solskjaer has ruled himself out of the vacant Bolton manager's job.
Bolton Chairman Phil Gartside must replace Owen Coyle at the club. Here's some of the main candidates to take the reigns at the Reebok.
Phil Gartside will start his search for Owen Coyle's successor after he paid the price for the club's poor start to the Championship season.