Known for her lavish and highly sought after wedding gown designs, the style icon married Becker in 1989.
The couple have two daughters together, and have reportedly worked closely in the business end of Wang's fashion company.
Wang and Becker's separation was announced on Tuesday (July 10), and her company's president Mario Grauso has issued a statement reading: "Vera Wang and Arthur Becker have mutually and amicably agreed to separate. They remain devoted parents to their two daughters."
A source close to the designer has said that Wang and Becker are determined to continue their business partnership.
"They will not let this impact the running of the company," the source explained. "They have worked too hard to build it up."
Wang's wedding dresses have been worn by countless Hollywood celebrities, including reality television star Kim Kardashian.