The Truro City boss fell on his sword following Tuesday night’s 1-1 draw at Weston-super-Mare.
Also leaving the National League South club is assistant and former player Chris Todd.
They told chairman Peter Masters of their decision to quit before the midweek game but agreed to stay on for the visit to the Seagulls.
Truro lost 4-0 to Billericay on the first day of the new season and will play home games at Torquay United this season.
The pair had only signed two year contracts in the summer having guided the club to the play-offs last year.
The White Tigers have appointed senior player Ben Harding as caretaker manager while they decide the next course of action.
A statement confirmed: “Truro City can confirm that first-team manager, Lee Hodges, and assistant manager, Chris Todd, both tendered their resignations ahead of Tuesday night’s game
“We have reluctantly accepted their decision and thank them for their efforts on behalf of the club and wish them well in the future
“There has already been considerable interest in the vacancy and we hope to be in the position to make an announcement shortly.
“In the mean time, now is the time for us all to look forward and ensure that the players are given the backing that they deserve as we look to secure our first victory of the season on Saturday.
“Senior player, Ben Harding, will be in charge of the team in the interim period and the players are all rallying around him to ensure that we can continue moving forward and making progress.”