Olympic swimming gold medallist Michael Klim and his wife Lindy have officially separated.

The couple has been together for almost 10 years and have three children.

They attended the Melbourne Cup in November, possibly their last social engagement, despite previous speculation that their marriage was on the rocks.

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On Thursday, Klim’s management TLA and his wife’s management team Sams and Somervaille confirmed that they had amicably parted ways.

The high-profile celebrity couple are now focusing on the welfare of their children.

“It is with much respect for each other that Michael and Lindy Klim have agreed to formally separate, believing that this decision is best for their family,” a statement from the pair’s management read.

“Michael and Lindy’s children will always remain their highest priority, and their happiness will be Michael and Lindy’s primary focus.

“We ask that you respect their privacy at this time.”

The Klims’ children attend school in Bali.

-AAP