Terry has stepped down as Leitrim senior football manager, having been at the helm for three years.
Hyland resigned from the post last night.
His departure comes days after last Sunday's heavy 5-20 to 0-11 defeat to Mayo in the Connacht Senior Championship.
Despite 24 of his squad being based in Dublin, Hyland achieved promotion from Division 4 in his first year (2019) after a fifth consecutive win in that campaign sealed their promotion from the bottom division.
That league final also marked Leitrim’s first appearance in Croke Park since the Tommy Murphy Cup final in 2006 against Louth.
They followed up that with a draw over Derry in the opening round of the 2020 Division 3 campaign and the team was holding its own in that tier until lockdown hit.
Two seasons of reduced activity throughout the Covid-19 pandemic ensued, depriving Hyland and his young team of much of the development work that they would liked to have implemented.
When play resumed last year they did beat Louth in round 5 of the league, and only narrowly lost to Tipperary, who later won the Munster title, in the last stage of the competition and suffered relegation.
And in the 2020 championship they put in a serious shift against Mayo before eventually losing by 11 points.
This time around, however, after Sunday’s heavy defeat to the same opposition, Hyland has decided to step away.
The Leitrim board were quick to express their gratitude to the Cavan native for his hard work during his time in charge.