An eyewitness told TMZ that the Biebs popped the question to the supermodel at a resort in the Bahamas, and... as you may have already deduced... she said yes.
Bieber's parents appeared to confirm the reports on Twitter, his dad tweeting "The proudest" and his mom tweeting "Love Love Love Love Love Love Love."
The couple had dated before but reportedly just got back together about a month ago. Before they rekindled their romance, Bieber was dating pop star Selena Gomez and Baldwin was with another Canadian crooner, Shawn Mendes.
They are the second celebrity couple to recently get engaged after mere weeks of dating, Ariana Grande and SNL's Pete Davidson being the first.
Congrats to the happy couple, and be sure to revisit Hailey's Maxim photos in the slideshow above.