The Australian rapper announced she was no longer due to be wed to the LA Lakers player in a post on her Instagram account.

"Unfortunately, although I love Nick and I have tried and tried to rebuild my trust in him — It's become apparent in the last few weeks I am unable to," she wrote. "I genuinely wish Nick the best."

Rumours that the couple were due to split began circulating in March, after a video surfaced which seemed to show Young, 31, admitting to cheating on his fiancee.

The video was filmed by Young's teammate D'Angelo Russell, and showed him boasting about meeting another woman.

Addressing the video in an appearance on US radio show Orlando & The Freakshow, the 26-year-old rapper said she and Young had not split as she did not know if the video, which was leaked by a third party, was legitimate.

"I already said one more video, just one more thing and you will lose a quarter of your meat," she told the show.

After the video was released, Azalea seemed to thank Russell for filming the video on Twitter, saying that she "liked his film".

In March, Young was one of two Lakers players named in an alleged instance of verbal abuse of a woman and her 68-year-old mother on a Sunday night in Hollywood.

The incident was addressed by the team's head coach Byron Scott, however the women did not receive an apology.

Azalea, who was raised in Mullumbimby, NSW, added in Sunday's Instagram post, "It's never easy to part ways with the person you planned you're [sic] entire future with, futures can be rewritten and as of today mine is a blank page."

Azalea and Young started dating in November 2013, reportedly after Young tweeted a picture of her with the hashtag "#WomanCrushWednesday".

Young proposed in June last year at Azalea's birthday party, which was held at a deserted amusement park.

Although Azalea has been based in the US since 2006, it was announced earlier this month that she would be returning to Australia to replace Dannii Minogue as a judge on The X Factor.