It comes after a woeful start to the season which sees the Pilgrims bottom of the National League North table and still looking for a first win of the season.
United had hoped to push for promotion once again follow defeat to York City in last season’s play-off final.
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He leaves the Jakemans Community Stadium after a seven-and-a-half month reign, which peaked with an exciting promotion final appearance in May.
Ian Culverhouse, who previously guided King’s Lynn Town to back-to-back promotions in 2019 and 2020, has been appointed as the club's new first team manager
His last managerial role was with Kettering Town, where he succeeded Cox in January, before resigning in May after guiding the Poppies to the cusp of the play-offs.