The couple announced the news via People on Tuesday, writing in a joint statement they believe "wholeheartedly that we did our best" during their four-year marriage.
"Sadly we have decided to go our separate ways," the statement reads. "We've shared nine beautiful and joyous years together. During that time we experienced love, friendship and the inevitable challenges that come with managing a marriage, careers, blended families and health issues."
While Yolanda Foster, 51, and David Foster, 66, didn't have children together, the former television personality is mother to Gigi Hadid, 20, Bella Hadid, 19, and Anwar Hadid, 16, from a previous marriage. David has been married four times.
"I hope that we can pave the road ahead of us with all we've learned and with the love and respect we will always have for one another," the couple's statement said.
In October, Yolanda took the stage at a Global Lyme Alliance event and delivered a heartfelt speech about her family's experience with Lyme disease. She revealed she and her two youngest children were all diagnosed with the disease in 2012 and have been consistently battling it.
"Watching my babies struggle in silence in order to support me in my journey struck the deepest core of hopelessness inside of me," she said, shifting the direction of her speech to her children. "I will walk to the end of the earth to find a cure so that you can live a healthy life that you deserve."