The Ghana Football Association confirmed that it had agreed with the Portuguese coach to end his contract, just weeks after bringing him back for a new spell in charge.
Queiroz said the decision was made because the conditions needed for the job were not in place.
"This was not an easy decision, but both parties agreed that, under the present circumstances, ending our professional relationship was the most appropriate course of action," Queiroz said in a statement released by the GFA.
"The interests of Ghana, the Black Stars and Ghanaian football are above everything else.
"The necessary conditions were not fully established, and our recent performance added to the decision to bring this journey to an end."
The decision came after Ghana threw away a two-goal lead against Gambia at the Accra Sports Stadium.
Ernest Nuamah and Felix Afena-Gyan had put the Black Stars 2-0 ahead, but Gambia responded with four unanswered goals to complete a dramatic comeback.
The result leaves Ghana bottom of their qualifying group without a point after two matches. They had already suffered a 2-0 defeat away to Ivory Coast.
Queiroz leaves with one win, two draws and four defeats from his seven matches in charge, with Ghana scoring five goals and conceding 10.
His latest spell began in September, although his first stint with the national team had started in April when he was appointed on a four-month contract leading into the 2026 World Cup.
The veteran coach guided Ghana into the knockout stage of the tournament, with the Black Stars beating Panama and drawing with England before losing 1-0 to Colombia in the Round of 32.
His initial contract ended after the World Cup, but the GFA brought him back on September 2.
Ghana must now find another coach while also trying to revive their AFCON qualification campaign.
The Black Stars are already six points behind Ivory Coast and Gambia after two games. With only the top two teams from the four-team group advancing, the pressure is mounting.
Ghana's next match is against Somalia on Wednesday, November 11, in the 2027 Africa Cup of Nations qualifying group stage.
Ghana head coach Carlos Queiroz has rejected the idea that his resignation would solve the Black Stars' problems after their disappointing start to the 2027 Africa Cup of Nations qualifiers.
Ghana captain Gideon Mensah believes the Black Stars must develop greater urgency and understanding of what it means to represent the national team after their disappointing defeat to Gambia.
In Tuesday's AFCON 2027 qualifiers, Egypt put five goals past South Sudan, Guinea-Bissau shocked Nigeria 3-0, and Ivory Coast beat Somalia.
Ghana's goalkeeping coach Daniel Gaspar has expressed huge confidence in the Black Stars' options between the posts, claiming the national team has the best group of goalkeepers in Africa.
