The Serbian was surprisingly sacked on Thursday after a meeting with club bosses in Accra.
The sacking came a day after the Phobians had lost a second straight game against King Faisal who played for long spells with nine men.
The club said they had parted company by mutual consent while vice president Frank Nelson told KickOffGhana.com that the coach had been fired on targets agreed with them.
Hearts had a healthy 14 point lead in the League but with eight games remaining have a five point advantage.
Nelson says the club did not just see the consistency they were looking for.
“Forget what happened in the first round,” he said. “In the second half we have dropped 15 points out of a potential 24 and that is not good enough.”
Papic was handed the reigns of Hearts at the beginning of this season and helped them establish a big lead that was a massive improvement on their poor form last season when they finished 8th.
Yet they have never really been convincing this season and failure two defeats against arch rivals Kotoko and Faisal means what looked like a procession to the title has become a real battle.
