Although a source told ET in November that the actress and her boyfriend have been secretly engaged for more than a year, they have only just gone public with the news. Paltrow and Falchuk released a joint statement via "Good Morning America" on Monday, sharing their excitement about the development.
"We feel incredibly lucky to have come together at this juncture in our lives when our collective successes and failures can serve as building blocks for a healthy and happy relationship," they said in the statement, according to EW.
Paltrow also shared a photo of the two of them via Instagram on Monday, using a simple diamond ring emoji to say it all.
According to People, Paltrow met the "Glee" co-creator in 2010 when she took a guest role on the series. They reportedly began dating in August 2014, several months after Paltrow and her now ex-husband, Coldplay frontman Chris Martin, separated. Both Paltrow and Falchuk have been married once before and are each parents to two children.