The hip hop mogul and Cassie went public with their romance in 2012, years after rumours they were dating began to circulate.
Now, according to People magazine, Combs and the singer ended their relationship several months ago, but remain friends.
"The decision was amicable and they remain friends," a source tells the publication. "Cassie is going to focus on her music and acting career."
Sean and Cassie rarely chatted about their relationship, but they showcased their love via social media and also starred in a steamy 2015 ad for his fragrance 3AM. In 2013, Cassie gave a rare look into their lives together by speaking about how much Combs had inspired her.
"Just being around him is a completely inspiring experience," she told Madame Noire. "The key to maintaining any relationship, be it a romantic relationship or a friendship, is honesty and communication."
Meanwhile, it has been reported Combs has moved on with 26-year-old model Jocelyn Chew. The pair has reportedly been seen in Miami, Florida and at Drake's recent concert in Los Angeles.
The 48 year old previously dated actress and singer Jennifer Lopez and has sons Quincy Brown Justin, Christian, twin girls D'Lila Star and Jessie James, and daughter Chance from previous relationships with exes Misa Hylton-Brim, Kimberly Porter, and Sarah Chapman.
Lopez and Combs have also remained friendly and reunited earlier this month to celebrate the end of her "All I Have" residency at Las Vegas' Planet Hollywood.