"Jason and I have decided to call off our engagement," she said in a statement. "I'll always adore him and we will remain great friends."
We can't say we're really surprised, since rumors have been swirling for months indicating a split was imminent.
Jason has also made a statement: "As this chapter ends for us a new one begins. I love and cherish her and her boys and we will be close forever."
Brit and Jason began dating in 2009 and announced their engagement in Dec. 2011. In April, Jason became co-conservator of Britney's affairs, along with dad Jamie Spears.
What's next for Britney? Well, she's said she wants to refocus on her music and sources say she is also considering a performance residency in Las Vegas. What would you like to see Britney do next? Tweet us at @OKMagazine and let us know!