Rumours had surfaced that the pair had called it quits when the Malibu singer posted an Instagram picture without her wedding ring this week.
While the couple is yet to make a statement themselves, a rep has reportedly confirmed they have indeed parted ways.
The spokesperson told People: “Liam and Miley have agreed to separate at this time.
“Ever-evolving, changing as partners and individuals, they have decided this is what’s best while they both focus on themselves and careers.
“They still remain dedicated parents to all of their animals they share while lovingly taking this time apart.
“Please respect their process and privacy.”
Australian actor Hemsworth, 29, and the Hannah Montana star have been dating on and off since 2010.
The got engaged in 2012 but then called it off the following summer, only to then announce they were back on in October 2016.
They tied the knot on December 23, 2018, at their home in Tennessee.
The news of the split emerged after the Mother’s Daughter singer was pictured kissing Brody Jenner’s ex Kaitlynn Carter on a girl’s trip to Italy.
The singer previously opened up about her attraction to women in a candid chat with Elle magazine.
The 26-year-old, who identifies as Queer, said: “I think it’s very confusing to people that I’m married. But my relationship is unique.
The pair were reported to have got married in a low-key ceremony at the house where the US hitmaker was born in Franklin late last year.
The pair’s surfer friend Conrad Jack Carr shared a photo of Miley in an off-the-shoulder ivory dress standing beside a dapper-looking Liam.
Speaking about their previous break-up before reuniting in January 2016, Miley said: “I needed to change so much.
“And changing with someone else not changing like that is too hard. Suddenly you’re like, ‘I don’t recognise you anymore.’ We had to re-fall for each other.”