In nearly identical statements on their Instagram Stories, Brady, 45, and Bündchen, 42, wrote that they had "finalized" their divorce after 13 years of marriage.
"We arrived at this decision amicably with gratitude for the time we spent together," Brady wrote. "We are blessed with beautiful and wonderful children who will continue to be the center of our world in every way. We will continue to work together as parents to always ensure they receive the love and attention they deserve."
Similarly Bündchen noted that Benjamin, 12, and Vivian, 9, her kids with Brady, have "always been" her "priority."
Both Brady and Bündchen said the decision to end their marriage took "much consideration."
Bündchen noted in her message that the former couple had "grown apart."
Brady called the decision "painful and difficult."
"We wish only the best for each other as we pursue whatever new chapters in our lives that are yet to be written," Brady wrote with Bündchen mirroring the sentiment toward her ex.
They both ended their messages asking for "privacy and respect" as they move forward.
A source tells ET, "Gisele and Tom worked on the terms of their settlement with a mediator. It has all been worked out and they agreed to joint custody of their children."
ET has reached out to reps for both Brady and Bündchen for comment.