Birdman first sparked split speculation by writing "It's over..." in an Instagram post that was deleted when he scrubbed his entire account clean on Tuesday, january 01.
Toni also removed all the pictures from her page and has since added a cryptic post indicating she is "starting a new chapter".
"Starting a new chapter isn't always an easy choice...but ALWAYS choose to be chosen. Cheers to a new year," the 51-year-old wrote next to a picture of her in a red evening gown.
Fans also noticed that the stars are no longer following each other on the photo sharing website. Representatives of the couple did not respond to a request for comment.
Toni and the Cash Money Records boss had known each other for nearly two decades before announcing their plans to marry in February last year. After their engagement she indicated that they would marry the same year.
Explaining why they hadn't tied the knot by November, the singer told U.S. TV host Wendy Williams that their commitments with her reality show "Braxton Family Values" had made it difficult to nail down a date.
"We almost had a date," she said. "Well, we had two dates. But we were doing Braxton Family Values and we were going through a little drama. And I was like, 'The wedding is a good thing to get all the sisters together.' (But) I couldn't get us all together."
Birdman bought the R&B star a $5 million (£4 million) engagement ring, but Toni lost it after leaving it in a case on a plane late last year. Her luggage was returned, but the expensive jewellery was missing.
The union would have been Toni's second marriage, as she divorced Mint Condition singer Keri Lewis in 2013 after over 12 years of marriage.