The magazine cites "multiple sources" who confirm the breakup between the pop singer and "Hunger Games" star, and quotes an insider who says the pair "are definitely over."
Earlier this month, Cyrus denied the breakup, saying that she and Hemsworth simply have different schedules, but they still share a home together in Los Angeles. "I'm not home with my boyfriend all the time. We work! He gets up to work out at six and I come home around five from the studio," she told V magazine. "Every week it's, 'Are they broken up? Because we don't see a photo of them.' I don't have time to go to Starbucks with my boyfriend every morning. I wish I did, but I don't."
But Hemsworth had spent considerable time without his fiancée in his native Australia earlier this year, spurring rumors of a postponed wedding. The distance seemed to confuse those close to the couple, including Cyrus' own father, Billy Ray Cyrus.
"I don't know [if they're still engaged]," the elder Cyrus told ABC News last month. "They're young, they're kids, the great news is they're great friends, they're really good friends. I play it by ear, I know whatever's meant to be that's the way it's meant to happen."
And in late April, Snoop Lion stopped by the HuffPost Live set and broke news of a breakup when it came to Cyrus, with whom he recorded the song "Ashtrays and Heartbreaks," off his upcoming album.
"I know that she has a relationship that no longer exists," he told host Marc Lamont Hill. "I know she's probably in a transformation change with her life, her music [and] her career."
Cyrus and Hemsworth became engaged in June 2012, after first meeting on the set of the 2009 summer romance flick "The Last Song."
HuffPost Celebrity has reached out to Cyrus' and Hemsworth's reps for comment.