The comedian - who is well known for taking the odd swipe at politicians on social media - posted a message to Prime Minister Liz Truss on Twitter after it was confirmed that Kwarteng had been dismissed as chancellor.
In a teasing reference to the "anti-growth coalition" that Truss has spoken out about, he quipped: "@trussliz omg can't believe he was also part of the anti-growth coalition babe!!
"SO right to get rid!!!"
Fans thought the star's comment was "hilarious".
One called it a "quality tweet" and another said: "My favourite tweet of the year."
"You win the internet for the day," said another.
Someone else wrote: "Ridiculously funny!
"Well done Joe Lycett! You win the internet for the year so far!"
"It's the gift that keeps on giving," one person posted.
"You could probably get a whole tour out of this."
Several people shared crying with laughter emojis.
"Those anti-growth coalition agents go deeeeeep," joked one fan, adding: "I've sacked my Mum just in case."
"This is perfect," said one tweet.
"You are so wicked! Delicious," remarked someone else.
Lycett has been pretty outspoken when it comes to politics.
During a recent appearance on the BBC's new flagship politics programme Sunday With Laura Kuenssberg, he amused his fans when he claimed to be a “very right-wing” Tory supporter who was a fan of Truss.
And earlier this year he tickled fans when he penned his own light-hearted version of Sue Gray’s report into the alleged Downing Street lockdown parties.
Watch: Tory MP discusses Joe Lycett mocking Liz Truss in parliament