The club are currently bottom of the La Liga table following two wins from their first 17 matches of the season.
"We felt that now was the right time for a change," Deportivo president Augusto Cesar Lendoiro told reporters.
"In the next few hours, or even tomorrow, we hope to introduce the new coach."
Oltra guided the team to promotion last season, but they have struggled to adapt to life in Spain's top tier this term.
Restore Data
| Team | P | W | D | L | F | A | GD | PTS | |
| 1 | Leganes | 40 | 19 | 13 | 8 | 52 | 25 | 27 | 70 |
| 2 | Real ValladolidValladolid | 40 | 20 | 9 | 11 | 47 | 32 | 15 | 69 |
| 3 | EibarEibar | 40 | 20 | 8 | 12 | 68 | 44 | 24 | 68 |
| 4 | Racing de SantanderRacing | 40 | 18 | 10 | 12 | 63 | 52 | 11 | 64 |
| 5 | Espanyol | 39 | 15 | 17 | 7 | 54 | 39 | 15 | 62 |
| 6 | Real Oviedo | 39 | 16 | 13 | 10 | 48 | 33 | 15 | 61 |
| 7 | Sporting GijonSporting Gijon | 40 | 16 | 11 | 13 | 49 | 42 | 7 | 59 |
| 8 | ElcheElche | 40 | 16 | 11 | 13 | 42 | 42 | 0 | 59 |
| 9 | Racing Club de FerrolRacing de Ferrol | 40 | 15 | 13 | 12 | 47 | 49 | -2 | 58 |
| 10 | Levante | 40 | 13 | 18 | 9 | 47 | 43 | 4 | 57 |
| 11 | Burgos | 40 | 16 | 9 | 15 | 50 | 52 | -2 | 57 |
| 12 | TenerifeTenerife | 40 | 14 | 10 | 16 | 35 | 39 | -4 | 52 |
| 13 | CartagenaCartagena | 40 | 14 | 9 | 17 | 37 | 46 | -9 | 51 |
| 14 | Albacete | 39 | 12 | 12 | 15 | 45 | 51 | -6 | 48 |
| 15 | Real ZaragozaZaragoza | 40 | 11 | 14 | 15 | 39 | 41 | -2 | 47 |
| 16 | Eldense | 40 | 11 | 14 | 15 | 44 | 54 | -10 | 47 |
| 17 | Huesca | 40 | 10 | 15 | 15 | 34 | 33 | 1 | 45 |
| 18 | MirandesMirandes | 40 | 11 | 12 | 17 | 44 | 53 | -9 | 45 |
| 19 | Amorebieta | 40 | 11 | 11 | 18 | 37 | 52 | -15 | 44 |
| 20 | AlcorconAlcorcon | 40 | 10 | 12 | 18 | 29 | 50 | -21 | 42 |
| 21 | FC AndorraFC Andorra | 40 | 10 | 10 | 20 | 32 | 50 | -18 | 40 |
| 22 | Villarreal II | 39 | 10 | 9 | 20 | 36 | 57 | -21 | 39 |
| > Segunda Division Full Table | |||||||||
