It was the Englishman’s 11th defeat in 31 games since replacing Thomas Tuchel at Stamford Bridge on 8 September.
Chelsea have dropped to 11th in the Premier League – 12 points outside the top four – having spent more than £550m on new players this season.
The club’s owners said they were “disappointed” to sack Potter.
Chelsea say Potter “has agreed to collaborate with the club to facilitate a smooth transition” and that Bruno Saltor, who worked with Potter at Brighton, will take charge of the team as interim head coach.
In a statement, co-controlling owners Todd Boehly and Behdad Eghbali said: “We have the highest degree of respect for Graham as a coach and as a person.
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