The Terriers were beaten in the Second Division play-off semi-final by Brentford and the club confirmed on Friday that Macari's contract had been terminated.
In a club statement the club also said that they had not yet told the former Manchester United player of the decision, because he is on holiday.
The club statement said: "After much deliberation by the board it has been agreed that Lou Macari be given notice that his contract with Huddersfield Town be terminated with immediate effect in accordance with the provision of that contract.
"It has also been decided not to renew the contract of assistant manager Joe Jordan, which expired on May 31, 2002.
"The board, however, wish to place on record their appreciation for the coaching staff's efforts during a difficult transitional period.
"We have tried to notify Lou of our decision on several occasions over the past few days, but regrettably he has not responded to our messages, and as a club we could no longer hold back this announcement."