The couple tied the knot in 2011 after dating for six years and have been the focus of numerous split reports throughout their marriage.
A statement from the pair reads: ''This is not the future we envisioned and it is with heavy heart that we move forward separately. We are real people, with real lives, with real family, friends and colleagues. Therefore, we kindly ask for privacy and compassion concerning this very personal matter.''
TMZ reports that divorce papers were filed some time ago by Blake, 39, and the country music superstars - who had a prenuptial agreement - have come to an amicable agreement on how to split their assets.
Court documents were reportedly filed in Oklahoma where the pair have a ranch.
According to reports, Blake will keep the ranch while 31-year-old Miranda gets their home in Nashville.
Blake divorced his first wife, Kaynette Williams, in 2006.
The actor says he isn't "holding out for more money or doing anything like that".
The drama will be making its return to the streaming service in the near future.
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