Hadid, 21, and Malik, 23, first sparked romance rumors in November when they stepped out together at an American Music Awards after party, reported People magazine.
On May 2, the model and the former One Direction band member made their stylish red carpet debut as a couple at the Met Gala.
"Zayn and Gigi did break up, but they can likely get back together tomorrow," an insider claims.
"It's all very unclear what's going on between them now. They been having some issues lately that involved communication and getting along."