The 44-year-old leaves following a 4-2 home defeat to Braintree Town, a result which came days after the Daggers were defeated 3-0 at Wealdstone.
A run of two wins in nine matches has left the club 16th in the Vanarama National League table.
Stevens was looking forward to take charge of Dagenham at Millwall in the FA Cup, after knocking out two EFL clubs to reach the third round for the first time in nine years.
He had held the position since being appointed in March 2023.
Assistant Manager Lewis Young has been placed in temporary charge. The East London side next face a trip to Ebbsfleet United before a game at title chasing Forest Green Rovers.
A statement read: “Regrettably, and after a run of poor results in the league, the club has decided to part company with manager Ben Strevens.
“The club would like to put on record its thanks to Ben for his almost two years in charge of Dagenham & Redbridge FC and in particular the two FA Cup victories against Crewe Alexandra and AFC Wimbledon which lined up a visit to Millwall in the 3rd round next month.
“Assistant Manager Lewis Young has been put in temporary charge of the team whilst the selection of a new manager takes place.
“No time scale has been put on this recruitment process, but rest assured this will start immediately. In the meantime, we would urge all supporters to give Lewis and the team your full support.”