The decision came a day after Maple Leafs lost 4-2 to Vegas Golden Knights falling to 9-10-4 this season.
Babcock will be replaced by Sheldon Keefe, who has been the head coach of the Toronto Marlies – AHL affiliate Maple Leafs' – for the past four and a half seasons.
Since coming to Toronto to start the 2015-16 season, the same campaign Keefe began training Marlies, Babcock's troops have lost the opening round of the Stanley Cup playoffs three times and missed the postseason altogether.
He left with a cumulative regular season record of 173-133-45 during his time as head coach of Maple Leafs.
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