"We have lovingly chosen to separate as a couple. We fell deeply in love so many years ago and have had a magical journey together. Absolutely nothing has changed about how much we love one another, but love is a beautiful adventure that is taking us on different paths for now," the couple said in a statement to PEOPLE.
"There are no secrets nor salacious events at the root of our decision — just two best-friends realizing it's time to take some space and help each other live the most joyous, fulfilled lives as possible," the couple said. "We are still a family and will always be loving dedicated parents to Everly."
They continued, "We won't be commenting beyond this, and we thank you all in advance for respecting our family's privacy."
Tatum also shared the statement on Twitter.
The Hollywood power couple met in 2006 during the filming of Step Up and married in 2009. The couple have one child, Everly, who turns 5 years old next month.
Dewan Tatum attended the 2018 Vanity Fair Oscars party by herself, sparking rumors of the break-up early last month. However, a few days later, the couple shared photos on Instagram of them having fun with Everly during a face-painting session.
They were last seen together at the Nickelodeon Kids' Choice Awards, where Tatum stopped by to promote the animated film Smallfoot.
In a recent interview with Health Magazine, Dewan Tatum said she did not like hearing people call her marriage and life "perfect" because it is impossible to be truly perfect.
"When people say you guys have such a perfect life, I want to scream and tell them no one's perfect. I think there are such things as great fits," the dancer said.
She continued, "It is a great fit as long as you are growing together, and I think up until this point we've really grown together. Even if one starts to grow, the other catches up and vice versa. But I think a couple needs to be conscious and to want to do the work and be willing to look at the parts of you that need work. Both of us have been pretty aware and willing to do that. We've always had the same values. But we're not perfect! Are you kidding? We fight like other couples, we disagree about things, we have days where we don't really like each other."