The couple dated for two years before splitting up.
"Kelly and Matthew have decided to end their engagement. The split is amicable and the pair continue to have nothing but the utmost respect for one another," Osbourne's representative told People.com Wednesday.
"Kelly is looking forward to a new year full of fresh beginnings. No further comments will be provided by all parties and we request privacy, decorum and space from the press but don't expect it."
Notable deaths of 2014 [PHOTOS]