Britain’s The Guardian newspaper said the Premier League club had decided to take the ruthless step after a dismal season.
United finished an embarrassing eighth in the Premier League this season — their lowest final position since 1990 — and crashed out of the Champions League in the group stage.
Ten Hag has been the subject of intense speculation over his future, months after British billionaire Jim Ratcliffe took a minority stake in the club and assumed control of football operations.
United insist no decision has been made on the Dutchman’s future and say a full review will take place after Saturday’s showpiece against the Premier League champions, who are chasing their second straight league and FA Cup double.
The club have been linked with a list of names including Thomas Tuchel, Mauricio Pochettino, England’s Gareth Southgate and Ipswich boss Kieran McKenna, who has previously coached at Old Trafford.