The four year partnership comes to an end following Sharapova's first round exit from the WTA Indian Wells tournament.
"After four successful and challenging years of collaboration together, I would like to thank Sven for his incredible loyalty, work ethic and most importantly the friendship that we have formed that will go beyond this working partnership," the Russian tennis star said in a statement.
She added, "Although we have mutually agreed to part ways during this time, I have been incredibly fortunate to have a team leader like him in my corner for the past four years."
Former ATP professional Groeneveld started working with Sharapova in 2014, and helped her to win the French Open in that year.
The pair also remained a team during 15-month drugs ban in 2016.
The two have won two titles together, but the 30-year-old Russian has won just five matches this year.
Groeneveld also released an official statement and said, "Maria has been one of the most hard-working and professional players I have ever worked with. Her strength and fighting spirit will continue to be a force to reckon with and I have the deepest respect for her as a player and person."
Sharapova lost to Japanese No 1 Naomi Osaka 6-4, 6-4 in the first round at Indian Wells this week.
Earlier this year, she reached the third round of the Australian Open before losing to Angelique Kerber. (ANI)