Before his Bulls stint, Hoiberg coached five seasons at Iowa State, leading the Cyclones to the Sweet 16 in 2014.
The Bulls have lost their last six games and have the second worst record in the Eastern Conference.
Three years and 6 months after the Bulls anointed him as the missing piece to a championship-ready roster, Fred Hoiberg was sacked as coach Monday morning.
For the Bulls, though, they begin a tough stretch of games with each of their next four games against teams that have a.500 record or better. He said all of the assistant coaches will be retained and he will add G League Windy City Bulls coach Dean Cooper to the staff.
He was a member of the 1986-1987 Black Bears team that knocked off Michigan State at the Bangor Auditorium.
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He replaced Tom Thibodeau, who was sacked after five seasons.
It was the front office that, over the course of the last two seasons, traded two of the team's best shooters in Doug McDermott and Nikola Mirotic. Most recently on the collegiate level, he was head coach at the University of Utah, where he led the Utes to the 2009 NCAA Tournament.
Boylen has been with the Bulls since Jun. 17, 2015. "I'm sorry, I know Fred is a laid-back guy and I really respect him for that, but when guys aren't doing what they're supposed to do, you have to get on guys - myself included".
The 7-foot Markkanen is perhaps the centerpiece of Chicago's rebuilding plan, but Hoiberg won't be around to see it through. Forward Bobby Portis (right knee) has played in four games and point guard Kris Dunn (left knee) has appeared in one, though both are expected back soon.
Hoiberg had gone 115-155 in over three seasons with the team and made one playoff appearance, losing to the Celtics in the first 2017 first round.