The pair – who have been married for 16 years – have two daughters together, Celeste, 11, and Amanda, 14.
TMZ reports that the Starship Troopers actor, 46, filed papers earlier this week citing irreconcilable differences.
Van Dien reportedly does not want to pay spousal support.
Best known for playing Amanda Carrington on Dynasty, Oxenberg, 54, is second cousin (once removed) to Prince Charles. Her mother is Princess Elizabeth of former country Yugoslavia.