"Yes", she captioned the Instagram photo she posted Saturday, showing her face covered with her hand, which is adorned with a large, diamond ring.
The couple were first linked together last summer, but have been together for over a year.
Her businessman beau Zandy was previously the head of business development for clothing brand Theory. Zandy Reich has an Ivy League education, as he graduated with a bachelor's degree in economics from the University of Pennsylvania and attended UPenn's Wharton School of Business.
Reports first emerged the Glee star was dating her longtime friend in July previous year as she was spotted holding hands with him in NY. "[They] just found they were better off as friends and wanted to support each other's careers", a source told Us Weekly at the time.
Lea Michele and Zandy Reich have not announced if they have chosen a date yet for a wedding.
Michele told PEOPLE in November 2017 that she enjoyed a quiet life with Reich away from the glare of the spotlight.
Lea Michele's friends claim that she was still mourning the Glee actor. The pair had been dating for over a year before Zandy popped the question, but the lucky guy is still a mystery to many of her fans.