Rock band splits
The band was founded in New Jersey in 2001, comprising members Gerard Way, Ray Toro, Mikey Way and Frank Iero.
"Being in this band for the past 12 years has been a true blessing. We've gotten to go places we never knew we would," the statement said.
"We've been able to see and experience things we never imagined possible. We've shared the stage with people we admire, people we look up to, and best of all, our friends.
"And now, like all great things, it has come time for it to end. Thanks for all of your support, and for being part of the adventure."
The group recorded four studio albums, most notably the platinum-selling "Three Cheers for Sweet Revenge" in 2004, followed by "The Black Parade" two years later.
Their best known hits include 2006's "Welcome to the Black Parade" and 2010's "Sing."