Alcorn State and Riley will part ways at the end of March.
Riley, 42, was 38-91 in four seasons with the Braves, including a 6-26 mark this season. Riley's best record came during the 2013-2014 season, when the team finished 12-19.
Alcorn State hasn’t had a winning season since going 21-10 to win the Southwestern Athletic Conference championship and reach the opening round of the NCAA tournament in 2001-02 under coach Davey Whitney. Riley was a graduate assistant under Whitney.
The team has had only six seasons with more than ten wins in the 13 years since Whitney's departure.