Assistant manager Ged McNamee has also departed Victoria Park.
A club statement explained: “A more detailed statement will follow this afternoon but suffice to say this incredibly difficult decision has been made with a heavy heart, as both men have worked tirelessly for the Club in the last eighteen months.”
Here, we asses who could take the reins at the North East club now Hignett has departed.
Scroll down and click through the pages to view the runners and riders for the job.
1. Richie Barker
The former Hartlepool United player has experience in management with Bury and Portsmouth and is currently assistant at Rotherham United. Photo: Pete Norton
2. Darren Williams
The former Pools and Sunderland player would likely be interested in the role and has managerial experience at Whitby Town. Photo: JPIMedia
3. Sam Collins
The 42-year-old made 244 Hartlepool United appearances and has enjoyed three stints as caretaker manager previously. Photo: JPIMedia
4. Tony Sweeney
Played 390 times for Hartlepool United and is currently employed as a coach at the club and will take charge until a new manager is appointed. Photo: FRANK REID