"The long and fruitful relationship between Gisele Bundchen and Victoria's Secret has reached a conclusion," the lingerie brand's CEO, Edward Razek, said Tuesday in a statement.
"We wish her all the best and thank her for her extraordinary work. She will continue to be a very visible part of the world's sexiest brand through the remainder of the year."
No further details were provided.
Bundchen, 26, is among the most famous supermodels in the world, strutting international catwalks and appearing in print and TV ads for Victoria's Secret and other fashion labels.
She's also known for her high-profile relationships with Leonardo DiCaprio and New England Patriots star football player Tom Brady.