The 26-year-old Modern Family actress and the 27-year-old British Shadowhunters actor have called it quits after dating for more than two years.
The breakup was mutual, two sources told E! News Friday.
"It's genuinely mutual and amicable and they truly remain friends," one of them said.
Hyland, who recently made her debut on Shadowhunters, and Sherwood met on the set of the 2014 movie Vampire Academy and began dating that winter, a few months after she split from Matt Prokop, who she had dated for five years.
Sherwood shared a photo of Hyland hugging a grown up Boo on Instagram this past Valentine's Day.
"Happy Valentine's Day!" he wrote. "My girls together here!!(I was holding my boy Barkley!) love you all xx."
During their time together, Hyland has brought Sherwood as her date to many high-profile celebrity events, including movie premieres, the SAG Awards, the Teen Choice Awards and Oscar, Emmy and Golden Globe parties.