The couple began dating last November after being introduced at a mutual friend's dinner party. However, Andre confirmed that he had split from the Spanish model earlier this month.
Andre told Heat that he is glad the pair could maintain their friendship, explaining that they discussed the split together and that it was "amicable".
"We're mates, and if we had stayed together that could have been ruined," he said. "We never argued and if the relationship had continued, we would have started to row."
Asked why they split, Andre said: "We never saw one another. I am so busy and so is Elen, and in my heart, I knew that the relationship was never going to step up to the next level.
"We weren't going to get married. We are better off as friends - and we are."
Andre previously admitted that he was "hurt" by suggestions that he and Rivas had been involved in a fake romance staged by their management company.
> Elen Rivas 'regrets dating Peter Andre'