People reports that the couple, who are parents to singer and Disney actress Miley, filed papers today, citing irreconcilable differences as the reason for their relationship breakdown.
They said in a statement: "As you can imagine, this is a very difficult time for our family.
"We are trying to work through some personal matters. We appreciate your thoughts and prayers."
The pair, who have been married for 17 years, have four other children - Trace, Brandi, Braison and Noah. Billy Ray also has a son, Christopher Cody, from a previous relationship.