Ferguson was the American Volleyball Coaches Assn. coach of the year in 2009 and 2012, but the Trojans did not qualify for the NCAA playoffs the last three seasons.
USC finished 19-9 this season after losing in the semifinals of the Mountain Pacific Sports Federation tournament. USC was 16-11 in 2014, 6-18 in 2013.
"We want to thank Bill for his service to USC these past nine years," Haden said in a statement. "He fielded competitive teams that often were in the national discussion and he recruited some accomplished players who represented our university well.
"He took over a program that had been wallowing for five years and changed its culture not only on the court, but in the classroom and in service to the community. We will now move forward to re-energize the program."
Ferguson posted a record of 150-102. The Trojans lost to UC Irvine in the 2012 NCAA championship match in the Galen Center. Irvine also defeated USC for the title in 2009. The Trojans lost in the 2011 semifinals against UC Santa Barbara.
"I love USC and I always will," Ferguson said in a statement. "I want to thank the athletic department for the opportunity to coach at USC and for all they did for me, my family and the program. I'd also like to thank the men's volleyball alumni for their support.
"I am proud of the work I did here, and I am proud of the players and assistant coaches who came through our program and those currently here. The program is in very good shape for the future and I look forward to the success it will enjoy."
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