The partnership was hugely successful, with Djokovic enjoying the most dominant period of his career through his early and mid-30s.
Ivanisevic became the Serbian's main coach in March 2022, having previously worked alongside Djokovic's long-time mentor Marian Vajda for several years.
The world No.1 said he and Ivanisevic parted ways "a few days ago", writing on Instagram: "I remember clearly the moment I invited Goran to be part of my team. It was back in 2018, and Marian and I were looking to innovate and bring some serve magic to our duo.
"In fact, not only we brought serve, but also lots of laughter, fun, year end No.1 rankings, record-breaking achievements and 12 more grand slams (and a few finals) to the count since then. Did I mention a bit of drama too?
"Goran and I decided to stop working together a few days ago. Our on-court chemistry had its ups and downs, but our friendship was always rock solid.
"In fact, I am proud to say (not sure he is) that apart from winning tournaments together, we also had a side battle in (the board game) Parchisi going on... for many years. And - that tournament never stops for us. Thanks for everything my friend. Love you."
Djokovic had one of his best seasons in 2023, winning three grand slam titles and losing an epic Wimbledon final to Carlos Alcaraz, but this news comes at an uncertain time for the 36-year-old, who also recently split from his long-time agents.
He lost his first match at the Australian Open since 2018 to Jannik Sinner and then suffered a shock defeat against Italian Luca Nardi at Indian Wells earlier this month before deciding not to play at the Miami Open.
Ivanisevic never shied away from the challenges of working with Djokovic, saying after the French Open final last year: "He's not an easy guy, let's put it this way. Especially when something's not going his way.
"He keeps you stressed, the stress level is always high. It never goes down. But every day you learn something."
Djokovic will aim to rediscover his form on the European clay, with the Serbian only one grand slam title away from passing Australian Margaret Court's tally of 24 to become the most successful singles player in history.
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