The board of AFL club Essendon has reportedly agreed to part ways with coach James Hird, with an announcement imminent.

Fairfax Media reports the club will announce the departure of Hird on Tuesday afternoon, three days after a 112-point loss to Adelaide.

Hird is contracted as coach of the club that he captained to the 2000 premiership until the end of next season.

James Hird, Paul Little and Xavier Campbell will hold a press conference at the True Value Solar Centre at 3.15pm on Tuesday.