The club announced that Franck Passi will take first team training this Friday.
Thierry Henry's situation has grown increasingly precarious, and Monaco have been linked with a return for Leonardo Jardim, who was sacked in October.
The Mirror claim that the club's owners are ready to accept their mistake in sacking Jardim by making a shock U-turn.
They were recently hammered by Strasbourg in the league too which sees them three points adrift in 18th place in the French league and just one point off the foot of the table.
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They were also knocked out of the French Cup by Ligue 2 side Metz on Tuesday.
The 1998 World Cup victor has won just two of 12 league games during his time at the helm and not managed a single victory in front of the home Monaco support.
Monaco have brought in players in the transfer window but Henry's former Arsenal teammate Cesc Fabregas - who arrived from Chelsea - was at fault for Strasbourg's third, while fellow new arrival Naldo left them with an uphill battle after being sent off in the seventh minute.
"We tightened up the group". We are in a critical situation - unfortunately, that has not changed.
"This weekend, it's going to be war" Henry added on Wednesday, and confirmed he has removed some members of his squad without confirming names.
And when you think about it, that basically means that he has to wait around to be told that he's been sacked.