Wilson took over from Dean Saunders at the Proact Stadium in December, 2015 but the Spireites fell into the League One relegation zone after winning just one of their last six matches, with Saturday’s 2-0 defeat at Bradford City proving to be his final match in charge.
Director Ashley Carson said in a statement on the club’s official website: “We feel that a change to the management team is necessary at this time to give us the best possible chance of securing our League One status. We hope to be able to announce a new management team soon.
“We would like to thank Danny and Chris for their efforts and wish them all the best for the future.”
Player and reserve team coach Ritchie Humphreys, a former Sheffield Wednesday striker, has been named caretaker-manager and he will be assisted by goalkeeper coach Matt Duke.
Wilson made 100 appearances for the Spireites from 1981-83 and a playing career which began at Wigan Athletic in 1976 finished at Barnsley in 1995 after almost 100 starts over three years for Sheffield Wednesday.
It was at Oakwell that Wilson had his most successful spell as a manager, famously guiding Barnsley to the Premier League as Division One runners-up in 1996-97.
It was the first time in Barnsley’s 125-year history that the club had won promotion to the top division of English football.
Although their stay lasted only a single season before relegation, Wilson’s side reached the FA Cup quarter-finals, knocking out favourites Manchester United in the fifth round.
Wilson managed both Sheffield clubs before rejoining Barnsley for what proved an unsuccessful spell between 2013 and 2015 and Chesterfield were the eighth club he had managed.