The comedy duo have worked on a number of projects together in recent years, including BBC sitcom Gavin & Stacey, sketch show Horne & Corden and comedy-horror movie Lesbian Vampire Killers.
The pair have also launched careers as TV presenters, teaming up to front the Brit Awards and E4's Big Brother's Big Mouth.
Speaking to The People, Corden revealed: "We still love each other but we need to spend a bit of time apart. We are going to have a break like couples sometimes do.
"We'll probably do another series of our comedy show, but I want to do more movies. With Mat or without Mat, I'm not sure. The main thing is I am in them. What more do the public and screaming girls want?"
Corden was recently tipped to make a guest appearance on Take That's current 'Circus' tour.