Monaco sacked their Austrian coach Adi Hutter on Thursday and are set to replace him with Belgian Sebastien Pocognoli, sources told AFP.
The 55-year-old Hutter's assistants Christian Peintinger and Klaus Schmidt will also leave the club.
The trio, who were hired just over two years ago, told players about their departure after training on Thursday.
Monaco are fifth in Ligue 1 after winning four and drawing one of their first seven matches, sitting just three points off leaders Paris Saint-Germain.
They lost their opening Champions League match against Club Brugge but then held Manchester City to a 2-2 draw last week.
Sources claim that Monaco tried unsuccessfully to reach an agreement with German coach Edin Terzic, 42, who was previously in charge of Borussia Dortmund.
Instead, they are said to be turning to Union Saint-Gilloise's Pocognoli, 38, a former Belgian international who last season – his only one as a first team head coach – led his club to a first league title in 90 years.
