But the club have struggled domestically and a 3-2 defeat by Shimizu S-Pulse on Wednesday proved to be the last straw.
Holland did oversee four victories from four matches in the Asian Champions League.
They are into the quarter-final of the competition and face Cristiano Ronaldo‘s Al-Nassr next Saturday.
Kisnorbo, 44, is the temporary boss of the Marinos after spells in charge of Melbourne City and French side Troyes.
The Aussie played for Leicester and Leeds from 2005 to 2012.
Japanese giants Marinos last won the league three years ago and they are owned by car manufacturers Nissan and Manchester City owners The City Football Group.
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