The Sun says the ex-Spurs boss found out before Thursday's Euro tie with Getafe that he was to be sacked.
Jol stormed into Levy's office and launched an F-word rant. A source said: "Martin was livid, really angry, as anyone would expect in the circumstances that surrounded him losing his job.
"He was steaming because Martin claimed the chairman had told him if the end had to come it would be done with dignity.
"Martin was using a lot of industrial language, it was really heated.
"He didn't care who heard what he was saying. He was determined to let everyone know just how badly he felt treated.
"At one stage, I understand he even told the chairman to manage the team himself and that he was going home.
"Martin was made to look a fool when the club first approached Juande Ramos to take over and now they had made him look stupid again. It was too much for him to take."
Jol confronted Levy again after the 2-1 defeat to the Spaniards, having hid his fate from players until the final whistle.