Henry's assistant Franck Passi will now take over as caretaker manager until a replacement is found.
Appointed to the position on October 13, he's won just four of 20 matches across all competitions and taken just nine points from an available 36 through 12 Ligue 1 fixtures.
Henry's humiliation during the Strasbourg game was exacerbated when he was forced to apologise for calling a player's grandmother a "whore" at the Stade Louis II.
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"This weekend, it's going to be war" Henry added on Wednesday, and confirmed he has removed some members of his squad without confirming names.
Monaco say they have yet to make a final decision on Henry amid claims they are set to cut their losses by sacking the France World Cup victor - just 15 weeks into his appointment.
"We tightened up the group". We are in a critical situation - unfortunately, that has not changed.
The club deliberated over his future during the past week but appeared to have settled on keeping Henry at the club.
The last time Henry's side recorded a victory was last December when the won away at Amiens by 2-0 but they have since been knocked out of the French Cup.
Jardim, sacked by Monaco despite leading the club to the Ligue 1 title in 2016-17, has been linked with a return to the club.