Charlie made the announcement on Instagram.
He told his followers simply: "Just to inform you all, Ellie and I have decided to part ways. I wish her all the best."
According to The Sun newspaper, Charlie made the revelation following a row between the couple amid accusations he was spotted with another woman.
A source said: “In the heat of the moment Charlie ended it but then rushed to Instagram to tell everyone; and that really upset Ellie. She felt incredibly hurt and disrespected.
“The next thing she knows he’s flown out to Monaco on another one of his luxury trips and they haven’t even spoken.”
The pair were forced to deny reports earlier this year that they were on the rocks just after August's reunion party.
The couple left the recording of the show in tears after a supposed 'massive argument' and tension between them.
A source told the Daily Mail at the time: "Charlie and Ellie had a huge row. They looked incredibly frosty during the programme and everyone could see it.
"Things were so bad that they went home in separate cars after the wrap party later that night and Ellie looked like she was about to cry. Things aren't looking good."
But Ellie has made it clear that the pair remained firmly together in a series of Instagram snaps.
Sharing loved up pictures of her and Charlie last month, she captioned one: "Thank you for a lovely date night"
Reacting to their eviction from the show in July, Ellie said: "It is bitter sweet. I have left with a boyfriend who I really like and we had an amazing time and made amazing memories in the villa. But it was very hard leaving the people that I’ve made such close friends with."
Charlie added: "You never want to leave the villa but at the same time, I went in to find love and a girlfriend and I have. I was disappointed but also, I did feel ready to leave."
And discussing their then future together, Ellie said: "When you go into Love Island, you do go in and you obviously want to leave with somebody.
"For it to actually happen is another thing. It’s mad coming out with somebody who you actually like and you actually have a connection with and who you are in a relationship with.
"It almost seems too good to be true. We haven’t even been on a date yet! So the first thing we need to do is go on a date. I feel amazing about it."