ITV said Marc, 45, who joined the soap as Sharif Nazir in February 2014, would not be returning to the show "with immediate effect".
The actor, who plays Sharif Nazir in the long-running soap, was dismissed after the Sunday Mirror informed the ITV network bosses about his racist tweets.
They include offensive language used to refer to Indian people.
Mirror published a screenshot of the alleged tweets from the actor's account, attacking India over Kashmir and calling for Pakistani actors to stop working in the country.
"We are deeply shocked by the entirely unacceptable, racially offensive comments made on Twitter by Marc Anwar.
"We have talked to Marc and, as a consequence of his comments, he will not be returning to Coronation Street with immediate effect," the statement read.
The actor's tweets came days after the Uri terror attack which lead to the killing of 17 Indian soldiers.
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