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Reese Witherspoon will be ringing in the new year as an engaged woman! The Oscar-winning actress is set to marry agent boyfriend Jim Toth, according to UsWeekly.

A rep for the actress confirms the engagement telling Us, "They are extremely happy."

The couple have been dating since January 2010, but didn't go public with their romance until March.

Witherspoon was previously married to actor Ryan Phillippe, but the two divorced in 2008. Reese then went on to date Jake Gyllenhaal, however they split towards the end of 2009.

Congrats to Reese and Jim!