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Murdoch (91) got married to Hall (65) in a low-key ceremony in central London in March 2016.
The Fox Corp chairman and his former supermodel wife were frequent fodder for tabloids, which chronicled their marriage at Spencer House and festivities surrounding his 90th birthday celebration last year in New York.
It is Murdoch's fourth divorce, but was unlikely to alter the ownership structure of businesses he holds stakes in, which include Fox Corp, the parent company of Fox News Channel, and News Corp publisher of the Wall Street Journal, according to the report.
A spokesperson for Murdoch declined to comment. A representative for Hall did not immediately respond to a request for comment.
The billionaire, whose net worth Forbes estimates at being $US17.7 billion (NZ$28.2 billion), built a sprawling media empire with assets worldwide. He sold the Fox film and television studios and other entertainment assets to Walt Disney Co in a $US71.3 billion deal in March 2019.
Murdoch previously was married to entrepreneur Wendi Deng, whom he divorced in 2014 after 14 years of marriage. They have two daughters.
He split from his second wife, Anna Murdoch Mann, a Scottish journalist with whom he had three children, in 1999. He and his first wife, Patricia Booker, a former flight attendant with whom he had a daughter, divorced in 1966.
Hall was a long-term partner to Rolling Stones' frontman Mick Jagger and had four children with him.