A system and associated method for disengaging a shrink coupling that secures a shaft to a drive train component, such as a gearbox, includes a reaction plate erected around the shaft at a location displaced from the shrink coupling, with the reaction plate being anchored in place relative to the shaft. A plurality of jacking devices, such as hydraulic jacks, are operationally disposed between the reaction plate and shrink coupling and spaced circumferentially around the shaft. The jacking devices have a first end engaged against the reaction plate and a second opposite end mechanically fastened to the shrink coupling. To remove the shrink coupling from the drive train component, the shrink coupling is released from its clamped state and the jacking devices are activated to exert a pulling force on the shrink coupling, which causes the shrink coupling to be pulled off of the drive train component and moved axially along the shaft to a resting position on the shaft.