The band was formed in 1979 in Athens, Georgia, in 1980 by singer Michael Stipe, guitarist Peter Buck, bassist Mike Mills and drummer Bill Berry, who left the group in 1997.
They posted the announcement of split on their official website yesterday.
"We have decided to call it a day as a band. We walk away with a great sense of gratitude, of finality, and of astonishment at all we have accomplished. To anyone who ever felt touched by our music, our deepest thanks for listening," the band posted.
The trio also shared their thoughts on what lead to the momentous end. "We have always been a band in the truest sense of the word. Brothers who truly love, and respect, each other. We feel kind of like pioneers in this--there's no disharmony here, no falling-outs, no lawyers squaring-off. We've made this decision together, amicably and with each other's best interests at heart. The time just feels right," Mike posted.
The bassist said that they reached the decision while putting together 'Collapse Into Now', a retrospective of their greatest hits. Michael said: "We built something extraordinary together. We did this thing. And now we're going to walk away from it. I hope our fans realize this wasn't an easy decision; but all things must end, and we wanted to do it right, to do it our way." Peter thanked the R.E.M. fans, saying they wanted to "do it right".
"Mike, Michael, Bill, Bertis, and I walk away as great friends. I know I will be seeing them in the future, just as I know I will be seeing everyone who has followed us and supported us through the years. Even if it's only in the vinyl aisle of your local record store, or standing at the back of the club: watching a group of 19 year olds trying to change the world."
Their career has spanned 15 studio albums and huge global success, the band itself only ever comprised the four original members. The only person to leave the tight-knit group was drummer Berry, who retired two years after suffering a brain aneurysm on-stage during 1995's 'Monster' tour.
But Berry had extracted a promise from the trio not to break and they fulfilled it with a successful partnership of 31 years.