The Italian's future had long drawn speculation after the Blues finished outside the top four in the Premier League in 2017-18.
Chelsea confirmed the decision in a club statement on Friday night AEST, declaring they had "parted ways" with Conte.
The London club are due to arrive in Perth this week, before taking on A-League club Perth Glory at Optus Stadium on Monday 23 July.
Former Napoli boss Maurizio Sarri has been linked with the vacant post although it's unlikely he'll be appointed in time for the Australia trip.
Chelsea will bring the likes of David Luiz, Cesc Fabregas, Marcos Alonso and Pedro to Australia for the tour, while their World Cup stars such as N'Golo Kante and Eden Hazard will be rested.