The Rock musician - brother of Miley - and the actress had announced they were to tie the knot in October last year, but decided to part earlier this year, blaming their busy work schedules.
In a statement Trace, 23, said: ''Brenda and I have decided to go our separate ways.
''We split up a couple of months ago. We will continue to focus on our careers. I wish Brenda the best and much success in the future. I hope everyone can respect our privacy about this situation. Thanks so much.''
Trace is the former singer for rock group Metro Station and now performs under the name Ashland High, as well as running his Southern Made Hollywood Paid clothing line. Brenda has previously starred in 'The Suite Life of Zack and Cody' and also recently appeared in 'The Social Network' alongside Justin Timberlake.
The news of Trace and Brenda's split comes just days after Miley announced she is engaged to actor Liam Hemsworth.