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In a joint statement, the couple said, "We will always love each other and be best friends; however, we have mutually decided to separate at this time."
The sad news comes on the heels of one of the busiest times in both Thicke and Patton's careers.
Thicke is currently on the Blurred Lines North America Tour, which is scheduled to last until the end of March.
Meanwhile, the 38-year-old actress is hard at work on her latest film project, Warcraft, in Vancouver.
The stunner stars alongside Ben Foster and Dominic Cooper in the action-packed film based on the popular computer game.