According to the Associated Press, a publicist for Combs confirmed rumors floating that the pair had split up.
The 37-year-old mogul made headlines during his trip to London to perform at the Princess Diana Memorial Concert at Wembley Arena last week, as rumors continued to fly that he was romantically involved with actress Sienna Miller.
He was also linked to Miller in January when the two allegedly spent all night partying in New York.
While Combs is reported to be shopping for a house in London, both stars denied any romantic links.
"I am in love with someone but not Puff Daddy," Miller said. "He's just a good friend."
“There is literally nothing between them,” a representative for Combs added.
Combs and Porter have dated since the mid-1990's and have a 10-year-old son Christian, as well as the two twin girls, Jessie James and D'Lila Star.
In a 2006 interview with Essence magazine, Combs flatly stated he wasn't ready for marriage.
"I know she deserves to get married," Combs said. "I’m just not ready. It’s not a reflection on how much I love Kim. It’s that I’m just learning how to be a good boyfriend. When I’m finished with this step, I’ll move on to the next."