Glory, who opened the season with a 2-2 draw at home against Wellington Phoenix, finished bottom of the league in 2024/25 with four wins from 26 matches.
The club said late on Tuesday that 51-year-old Zdrilic had been relieved of his duties with immediate effect.
"Members of the existing support staff will take temporary charge of the team for Friday's home game against Melbourne Victory, and an announcement regarding the appointment of a new, permanent head coach will be made in due course," Glory said in a statement.
It was the former Australia forward's first permanent head coaching role at professional level after assistant roles at Sydney FC and in Europe.