The Australian's two-year stint in charge of the limited-overs teams ended after Rob Key, the managing director of England's men's cricket, decided an under-performing outfit needed a "new direction".
The 50-year-old Mott, previously in charge of the all-conquering Australian women's side, had seen his position come under intense scrutiny after two disappointing England title defences in both last year's 50-over World Cup and the more recent T20 World Cup.
There were questions too over whether England white-ball captain Jos Buttler should remain in post, but the wicketkeeper-batsman has been backed to continue leading the side.
Mott and Buttler won the T20 World Cup in 2022, just months after starting work together, but England's two most recent major tournaments were huge disappointments.
England put up a woeful defence of their 50-over crown in India, losing six of their nine games, and defeated only one Test nation before being thrashed by eventual champions India in a Guyana semi-final during last month's T20 World Cup.
Trescothick, a former England opening batsman and 2005 Ashes winner, will take over for the visit of arch-rivals Australia for both T20 and one-day international series in September while a successor is found.
Former Sri Lanka captain Kumar Sangakkara, who has worked closely with Buttler as coach of Rajasthan Royals in the Indian Premier League, could be a candidate to take charge, while ex-England batsman Jonathan Trott, who has impressed as coach of Afghanistan, has also been linked with the job.
Eoin Morgan, Buttler's predecessor as England captain, has ruled himself out, while the vacancy may come too soon for former England all-rounder Andrew Flintoff, now back in cricket as the coach of Northern Superchargers in the Hundred.
Key, explaining the decision to part company with Mott," said in an ECB statement: "After three World Cup cycles in a short space of time, I now feel the team needs a new direction to prepare for the challenges ahead.
"This decision was not made lightly, but I believe it is the right time for the team's future success. With our focus shifting towards the Champions Trophy early next year and the next cycle of white-ball competition, it is crucial that we ensure the team is focused and prepared."
'Huge potential'
Former England batsman Key added: "Marcus Trescothick is well respected in the dressing room and will take charge of team affairs alongside white-ball captain Jos Buttler.
"On behalf of everyone connected to England cricket, and me personally, I would like to thank Matthew for all he has done for the team since his appointment."
Mott, who insisted after the T20 World Cup in the Caribbean he was still the right man for the job, said: "I am immensely proud to have coached the England Men's team; it has been an honour.
"We have put everything into trying to achieve success over the past two years, and I am incredibly proud of the character and passion that the team has displayed during that period, including a magnificent T20 World Cup victory in 2022."
Trescothick added: "England cricket is in a strong position, and the potential is huge, given the quality we have available."
