Assistant Coach Ben Gordon will assume the head coaching duties in the interim.
Wick is the winningest coach in program history with 145 career victories.
He was named the Northern Collegiate Hockey Association (NCHA) Coach of the Year in 2009 and '12.
In the conference tournament, Wick guided the Saints beyond the NCHA quarterfinals seven of the past eight seasons, making the finals for the second time in program history last season.
With four games remaining in the regular season, the Saints (10-8-3, 7-5-2 NCHA) are currently tied for fourth in the NCHA standings.
CSS travels to No. 7 St. Norbert this weekend for a two-game series.