Rice has parted ways with football coach David Bailiff after 11 seasons, according to the school's director of athletics.
"Just hasn't been there with the wins and losses the last couple of years, and felt like this was the time that we needed to reset that," director of athletics Joe Karlgaard told KRIV-TV on Monday.
Rice was 1-11 overall and 1-7 in Conference USA play this season.
Bailiff was the Conference USA coach of the year in 2008 and 2013. He led the Owls to their first outright conference championship in 56 years in 2013, when the team finished 10-4.
Since 2015, Rice has failed to reach a bowl game and is 9-27 overall.