"We have mutually decided to end our marriage," the couple said in a joint statement. "We'll always be family and continue to cherish our relationship based on the special love, integrity, and respect we have always enjoyed."
Judd, who starred on last year's canceled ABC series "Missing", recently announced she was considering a potential run for the Kentucky Senate.
"I am incredibly honored and frankly overwhelmed by the outpouring of support — that the people of Kentucky are interested in having me represent them is the greatest honor of my life so far, and I am certainly taking a close look at it," Judd said at The Kentucky Society of Washington's Bluegrass Ball in Washington, D.C., last week. "The people of Kentucky need a fighter and certainly going back 10 generations, I've got some fighters from those hills in my family and as soon as I know anything — after I've told the family members to whom I've made my promises that they'll be the first to know — you will be up to date in real time."
Judd, 44, and Franchitti, 39, wed in Scotland in 2001. They have no children.