The couple got engaged in March 2019.
UPDATE - MARCH 13:
"Jennifer and Alex remain a couple. Like any relationship, they have ups and downs and are working through things," the source says. "There is no third party involved. She's currently working in the Dominican Republic and he is working in Miami."
BEFORE - MARCH 12, 2021:
One source tells ET that the 45-year-old former MLB pro and the 51-year-old triple-threat star "called off their engagement and have decided their relationship has run its course."
"Jennifer felt like moving forward to marriage wasn't right. Recently Alex’s character has been called into question and that didn’t sit right with Jennifer," says the source. "The couple will always have respect for each other."
While the breakup may come as a surprise to fans, Lopez did recently speak to Allure magazine about why she felt it was best they didn't wed last year like they had planned. The two were forced to postpone their 2020 nuptials in Italy due to the COVID-19 pandemic.
"It was a big deal. We had been planning for months and months and months, and it was overseas," she said. "Maybe that wasn’t the right time. You start thinking of all of these things -- how everything has its kind of perfect, divine moment."
Lopez also revealed that she and Rodriguez were seeking council on their relationship. "It has been actually really good," Lopez shared with the publication. "We got to work on ourselves. We did therapy. I think it was really helpful for us in our relationship."
As for Rodriguez's "character" being called into question.
Earlier this year, rumors swirled that Rodriguez has been talking to Southern Charm star Madison LeCroy. During Southern Charm's reunion episode, Craig Conover accused LeCroy of flying "to Miami to f**k an ex-MLB player." LeCroy immediately denied doing so. She and Rodriguez were later connected by tabloids, with claims circulating that he had previously liked one of her Instagram posts.
A source previously told ET that "Alex Rodriguez never met Madison and doesn’t know her," while LeCroy told Page Six that she and Rodriguez "never met up," but did claim they've "spoken on the phone."
ET previously reached out to Rodriguez and LeCroy for comment.
Prior to news breaking that she and Rodriguez had split, Lopez posted a photo of her FaceTiming with her 13-year-old daughter, Emme, who is crying on her dad, Marc Anthony's, shoulder. "When they are sad but mommy and daddy are there #Cocunuts," she captioned the image. "I love you!! So proud of you..."
Lopez and Rodriguez last posted photos on social media together in February when he went to visit her in the Dominican Republic while she was filming Shotgun Wedding.
Page Six was the first to break the news that the two had decided to part ways, and ET has reached out to Rodriguez and Lopez's reps for comment.