The couple released a statement in April following reports in March the couple had split.
"We have realised we are better as friends and look forward to remaining so," the couple told the Today show.
"We will continue to work together and support each other on our shared businesses and projects. We wish the best for each other and each other's children."
The stars became engaged in 2019 but then had to postpone their wedding twice, apparently due to the Covid-19 pandemic.
Since the split, Lopez has linked back with her former fiancé Ben Affleck. The couple were formerly engaged in the early 2000s.
According to a source who spoke to People magazine last week, Lopez and Affleck are spending a lot of time together.
"They are back in Los Angeles now after the most special trip to Europe. They are hanging out with their kids and friends.
"They are having an amazing summer. They are spending as much time together as possible before they have separate work projects in the fall. Ben will be filming in Texas and Jennifer in Canada."
Ben has children - Violet, 15, Seraphina, 12, and Samuel, 9, with his ex-wife Jennifer Garner - while Jennifer has 13-year-old twins Emme and Max with her ex-husband Marc Anthony.
J-Lo's social media moves appear to further cement her relationship with Affleck, and reports from Insiders suggest they may move in together soon.
