The couple will divorce after 18 years of marriage.
"We have thoughtfully and consensually decided to finalize our almost twenty years marriage in a loving and friendly manner honoring and respecting each other, our family and friends and the beautiful time we have spent together," the couple told ABC News in a statement.
According to paperwork obtained by TMZ, Griffith filed the document, citing irreconcilable differences. She asked for joint custody for the couple's daughter, Stella, who will turn 18 in September, though she petitioned for primary physical custody. She also asked for spousal support.
Griffith, 56, and Banderas, 53, fell in love on the set of "Two Much" in 1995, when both were married to other people. Around that time, Griffith filed for divorce from actor Don Johnson, with whom she has a daughter, "Fifty Shades of Grey" actress Dakota Johnson, 23. Meanwhile, Banderas simultaneously split from his wife of nine years, actress Ana Leza.
The following year, they married and welcomed Stella. Griffith also has a son, Alexander, from a previous marriage to Steven Bauer.
The couple withstood several hardships, including Griffith's two trips to rehab for a painkiller addition and her skin cancer scare in 2009. They were photographed together as recently as March in L.A.