The news comes several months after drug charges against Page were dropped in the U.S. His arrest came after the band, known for its clean-cut image and whimsical lyrics, released an album of children's songs titled "Snacktime."
The band's Web site said Wednesday that Page will pursue solo projects, including theatrical opportunities.
Band co-founder Ed Robertson said the decision to split was mutual, came after months after discussions and was not based solely on the charges.
"Certainly, that was a huge event in all of our lives," Robertson said. "It would be ridiculous to say it didn't have a huge effect. I'm just saying this split isn't about that."
The band does not plan to replace Page for now, but will go ahead with four members, Robertson said. They will return to the studio in April and will tour in the fall.
Page wished the band the best.
"These guys are my brothers," he said in the online statement. "We've grown up together over the past 20 years. I love them and wish them all the best in the future."
The band was formed in Toronto and released 12 albums, producing hits such as "If I Had $1,000,000," "Brian Wilson" and "Too Little, Too Late."
The other members will return to the studio in April and will tour in the fall.
"It's the start of a new chapter for all of us," band member Ed Robertson said. "Here's to the future!"
Singer buys house in NY near where he was arrested
Jul 21, 2009 1:00 am PDT
Former Barenaked Ladies singer Steven Page has bought a new home in central New York next to the apartment where he and his girlfriend were arrested last July for cocaine possession. Onondaga County real estate records show Page and girlf...
Steven Page explains why he left Barenaked Ladies
Feb 27, 2009 10:00 am PST
Singer-guitarist Steven Page said a big reason he decided to leave the Barenaked Ladies was he felt his songwriting voice was occasionally being squeezed out as a result of being in a five-member band. A day after he announced on the band...
Lead singer quits Barenaked Ladies after drug bust
Feb 25, 2009 8:00 am PST
The lead singer of popular Canadian band the Barenaked Ladies, who was charged with drugs offenses in the United States last year, is leaving to pursue a solo career, the group said on Wednesday. Steven Page, 38, was arrested in July 2008...
Barenaked Ladies' Page gets reduced drug charges
Oct 29, 2008 3:00 am PDT
A drug charge against Barenaked Ladies singer-guitarist Steven Page was significantly reduced Tuesday by an upstate New York court. The felony charge was reduced to a misdemeanor and the 38-year-old musician was given what's called an adj...
Barenaked Ladies singer survives plane crash
Aug 25, 2008 9:00 am PDT
The lead singer of the Canadian pop band Barenaked Ladies and three other people survived a plane crash in rural southeastern Ontario, authorities said Monday. Ed Robertson's Cessna 206 floatplane crashed in a wooded area near Bancroft, O...