Egyptian president Mohammed Morsi has been overthrown in a military coup.

The Egyptian army suspended the constitution and installed the head of Egypt's Supreme Constitutional Court as interim leader in the early hours of this morning (AEST).

The head of the Egyptian Army, General Abdel-Fatah El-Sisi, says presidential and parliamentary elections will be held to elect a new government.

Tanks and troops were deployed to the presidential palace after Morsi refused to meet the Military deadline demanding his resignation.

It marked the end of another day of violent protests, which have killed more than 40 people and injured hundreds.

Wild cheers and fireworks erupted from the protesters as General Sisi announced the end of Morsi's leadership.

General Sisi says a roadmap for Egypt's future has been agreed upon by a range of political groups.

Morsi has called on his supporters to reject the military coup.

"Let our sons know that their fathers and grandfathers were men who do not accept injustice and do not give in to the corrupt and will never give up when it comes to their country, their legitimacy or their religion," he said on a statement on his Facebook page.

The interim head of state, Adly Mansour, will be sworn in on Thursday.