Pippa Middleton is reportedly engaged to James Matthews!

Pippa Middleton is officially off the market!

According to reports, the Duchess of Cambridge's younger sister is engaged to her boyfriend James Matthews.

WATCH: Pippa Middleton Continues Her Reign as Wimbledon's Fashion Queen in Chic Retro Dress

Matthews, who runs the British hedge fund Eden Rock Capital Management, popped the question on Saturday in England's Lake District, according to the Daily Mail.

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"I would say she's the lucky one," a source told the Daily Mail. "He's one hell of a catch."

The on-again-off-again couple rekindled their relationship in January after Middleton split from her longtime beau, Nico Jackson, in October. Matthews and Middleton first started dating in 2012.

The Daily Mail reports that Matthews, 40, asked Middleton's father for her hand in marriage prior to the proposal and that the wedding will most likely take place next year.

WATCH: Pippa Middleton Flashes Lots of Leg at Wimbledon

This news should add to Middleton's radiant glow, which we saw at Wimbledon earlier this month. The 32-year-old socialite was flawless in a blue and orange Tabitha Webb Edie dress.

PHOTOS: Pippa and her fiance together

Middleton quickly became a fashion icon after Prince William and Duchess Kate's wedding in 2011, when she made headlines for her curve-hugging bridesmaid dress, so we can't wait to see what her wedding gown might look like.

ET has reached out to Middleton's reps for comment.