The actors wed in November, 2009, but they recently separated and Chase's representative confirms to People.com that they are preparing to officially end their marriage.
They have no children together, although Chase, who has starred in hit musicals Miss Saigon and Billy Elliot, is a father to two daughters from a previous union.
News of Chase and Gibson's split comes amid rumours of a budding romance between the actor and Debra Messing, his co-star in upcoming U.S. TV series Smash.
Former Will & Grace star Messing revealed earlier this month (Dec11) that she and her husband of 10 years, Daniel Zelman, had split in early 2011.
Us Weekly magazine first reported the romantic link between Chase and Messing.