Trawick has also resigned as the 31-year-old singer's co-conservator and now her father, Jamie Spears will remain her conservator, reported People magazine.
Spears' representative confirmed the news saying, "Britney Spears and Jason Trawick have mutually agreed to end their one-year engagement. As two mature adults, they came to the difficult decision to go their separate ways while continuing to remain friends."
The 'I Wanna Go' singer said, "Jason and I have decided to call off our engagement. I'll always adore him and we will remain great friends."
While Trawick said, "As this chapter ends for us a new one begins. I love and cherish her and her boys and we will be close forever."
Spears began dating her agent Trawick in 2009. They later ended their professional relationship to focus on their personal relationship.
The couple got engaged in December 2011. Rumors of their split started swirling a year later, but it was shut down as the two exchanged sweet messages on Twitter on Trawick's 41st birthday.
Spears was previously married to Kevin Federline from September 2004 to July 2007. They have two sons together, 7-year-old Sean Preston Federline and 6-year-old Jayden James Federline.
