The pair, who began dating in 2013, are the parent so their little boy, 20-month-old York Banks Asla.
One source told People that the Norwegian photographer has already moved out of their Los Angeles home.
It's believe the pair are still friends and will even work together, with Erik set to shoot the opening credits for the new season of America's Next Top Model, which is hosted by the supermodel.
One pal divulged to US Weekly, "She and Erik are friends. The break up was drama-free."
The Hollywood heavyweight became a first-time mum in January 2016.
The 43-year-old welcomed her son via surrogate.
One of her friends recently shared, "She loves being a mum and is very hands-on."
The world was gobsmacked when she announced the arrival of her cherub on Instagram last year.
In a heartfelt post she wrote, "The best present we worked and prayed so hard for is finally here."
"He's got my fingers and big eyes and his daddy Erik's mouth and chin. As we thank the angel of a woman that carried our miracle baby boy for us, we pray for everyone who struggles to reach this joyous milestone."
Before adding, alongside a snap of a newborn hat, "York Banks Asla, welcome to the world."
In 2015, Tyra confessed that she struggled to conceive.
"We're kind of going through this similar thing with IVF," she confided to a then-pregnant Chrissy Teigen during FABLife.
"And, you know, putting needles in your tummy every day and having to come to work and smile when you feel like you want to throw up and lay down — I can't believe I'm saying this right now!"
But for Tyra, it's all worth it, who describes being a mum as "heaven".