Michael confirmed the split to In Touch. "We did,” he told the outlet.
"I love her though, she’s my best friend," Michael added.
According to the outlet, rumors started to buzz that the pair had gone their separate ways after Bynes, 33, deleted all photos of Michael from her Instagram.
On Valentine's Day, Bynes took to the social media platform to announce she was engaged and posted a close-up photo of a diamond ring.
"Engaged to the love of my life," Bynes captioned the picture, which showed her hand resting on someone else's – presumably her fiancé's – with her dazzling diamond on full display.
At the time, a source told People that the former troubled child star "seems happy."
One week after revealing her engagement news, Bynes confirmed rumors that she met Michael in rehab. She also provided an update on how she's doing with her fight for sobriety.
"Now I've remained sober for over a year – same with Paul," Bynes said. "I just wanted to let you know that I love you guys and I'm so happy now. I feel like I got what's mine and that is Paul."
The "She's The Man" star hasn't publicly commented on the split.