Owen, 33, who has a two-and-a-half-year-old daughter Olive Pearl with Buchanan, announced the split via a statement, reported People magazine.
"I wanted to let my fans know how much I've appreciated their support of not only my career, but my family as a whole.
"Sadly, Lacey and I have decided to end our marriage. We want to focus on our daughter Pearl and make sure that she has a beautiful life with loving parents. We appreciate you respecting our privacy during this time," his statement read.
"This is the hardest thing I've ever done in my life. We appreciate your support and privacy in this matter," he wrote.
Owen met Buchanan, when she appeared in his videos for "8 Second Ride" and "Barefoot Blue Jean Night".
The couple got married on May 7, 2012, in Florida.