Moxey left his job as Wolves CEO to replace David McNally in August 2016, who resigned following Norwich’s relegation from the Premier League last season.
Moxey took up the job after overseeing the transition of ownership at Wolves, after spending 16 years at the club.
"The role has not worked out satisfactorily for Jez, his family or the club," club chairman Ed Balls said.
He added "All parties have professionally and amicably agreed to move on. We wish Jez all the best in his future career and now our focus is on the next steps for Norwich City."
Finance director Steve Stone, who acted as the club's interim CEO before Moxey arrived, will take up the same role again until a permanent CEO is found.
"Our immediate priority is on providing every support possible to Alex Neil and the squad to maintain our push towards the top six positions in the Championship table."