Witherspoon and Phillippe separate

Oscar-winning actress Reese Witherspoon and her husband Ryan Phillippe have officially separated.

After seven years of marriage, the couple announced the separation in a statement released to TMZ.com.

The statement from the couple's representative read: "We are saddened to announce that Reese & Ryan have decided to formally separate. They remain committed to their family and we ask that you please respect their privacy and the safety of their children at this time."

The couple have two children together, daughter Ava, 7, and son Deacon, 3.

The couple met during the filming of 1999's seductive teen thriller, Cruel Intentions.

Throughout their marriage, sources have speculated the relationship's demise, due to Phillippe's alleged discontent with his wife's superstar status.

Witherspoon is best known for her role as ditzy blonde lawyer Elle Woods in Legally Blonde, which cemented her reputation as a Hollywood A-lister.

Earlier this year, Witherspoon became Hollywood's highest paid actress after winning an Academy Award for her role as Johnny Cash's wife in Walk the Line.

The actress was offered US$29 million (NZ$43 million) for the upcoming horror film Our Family Trouble, superseding Julia Roberts' previous record of US$24 million (NZ$36 million) for Mona Lisa Smile.

Phillippe's career has been less illustrious than his wife's, though he has worked solidly over the past 12 years.

The actor stars in the WWII drama Flags of Our Fathers, in New Zealand cinemas this Thursday.

- NZ HERALD STAFF