The engagement was announced Monday. But the two were engaged earlier this month in London and will have the wedding in spring 2018, according to a statement released by Prince Charles.
Following reports last week that the 36-year-old Suits star has permanently moved from Toronto to London, bookmakers closed bets on a new royal wedding.
WATCH: Prince Charles, international public react to Prince Harry, Meghan Markle engagement
“Prince Harry has informed Her Majesty The Queen and other close members of his family. Prince Harry has also sought and received the blessing of Ms. Markle’s parents,” the statement said.
“We are incredibly happy for Meghan and Harry. Our daughter has always been a kind and loving person. To see her union with Harry, who shares the same qualities, is a source of great joy for us as parents,” Markle’s parents Thomas Markle and Doria Ragland said in a statement.
The betting company, William Hill has named St. Paul’s Cathedral as their wedding venue favourite, with odds of 1/1, followed by Westminster Abbey at 2/1 and Windsor Castle at 6/1.
People were also placing bets on whether Harry will have a beard for the wedding, with 11/10 for yes and 4/6 for no.
The couple, who began dating last summer, made their first public appearance together at the Invictus Games in Toronto in September.
Royal watchers also speculated that Harry, 33, popped the question during the couple’s three-week vacation to Africa in August, where they celebrated Markle’s birthday.
A statement was released on Nov. 16, 2010, which read, “The Prince of Wales is delighted to announce the engagement of Prince William to Miss Catherine Middleton. The wedding will take place in the Spring or Summer of 2011, in London. Further details about the wedding day will be announced in due course.”
Photos of the engaged couple are expected later Monday, according to the Royal photographer.
It also noted: “Prince William and Miss Middleton became engaged in October during a private holiday in Kenya. Prince William has informed The Queen and other close members of his family. Prince William has also sought the permission of Miss Middleton’s father.”
WATCH: People in Toronto react to Prince Harry, Meghan Markle engagement
Royal weddings generally take place just months after the engagement announcement. William and Kate married five months after their announcement, which is the same amount of time as Prince Charles and his first wife, Diana, Princess of Wales. Queen Elizabeth and Prince Philip were married in November 1947, just four months after getting engaged.