The news was confirmed this morning by a delighted Prince of Wales in a statement that also revealed the couple became engaged in London earlier this month.
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siting Poundbury in Dorset the Prince of Wales told reporters he was thrilled and very happy indeed.
The Duke and Duchess of Cambridge said: We are very excited for Harry and Meghan. It has been wonderful getting to know Meghan and to see how happy she and Harry are together.
The statement did not reveal the exact date or location of the ceremony but said further details about the wedding day will be announced in due course.
Confirmation of the engagement comes after an eighteen month romance between the 33 year old Prince, who is fifth in line to the throne, and the 36 year year old American actress.
A Buckingham Palace spokeman said: The Queen and Duke of Edinburgh “are delighted for the couple and wish them every happiness.”
The statement from Clarence House added: 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 couple will live in Nottingham Cottage at Kensington Palace.
Prime Minister Theresa May went to Twitter to offer her very warmest congratulations and added: This is a time of huge celebration and excitement for two people in love and, on behalf of myself, the Government and the country, I wish them great happiness for the future.
The couple’s plans appear to have been finalised at a series of last-minute meetings between senior courtiers at Kensington Palace.
Meghan’s mother Doria Radlan and Markus Anderson Divorcee Ms Markle, whose father is white and mother of African-American descent, has described herself as a strong, confident, mixed-race woman.
Details of the ceremony will follow swiftly along with huge speculation about the guest list for what is set to be the wedding of 2018.
Archbishop of Canterbury Justin Welby said in a tweet: I’m absolutely delighted to hear the news that Prince Harry and Meghan Markle are now engaged. I wish them many years of love, happiness and fulfilment and ask that God blesses them throughout their married life together.
Meghan Markle with her mother Doria Ragland Bookies said Westminster Abbey was the favourite in betting on the location, with odds of 12/1 on followed by Windsor Castle is at 2/1, and St Pauls at 5/1.
May is the hot favourite month with odds of 5/2 with April and March both at 10/3.
Katie Baylis, spokeswoman for Betfair said: It’s the announcement the world has been eagerly awaiting and after some intense speculation over the last few days, the couple have now confirmed their engagement and a Spring wedding.
Ms Markle with her father when she was a young child May is the favourite at 2/5, with April or May both at 10/3 but with the Duchess of Cambridge due to give birth in April you would expect they would wait until after the baby is born.
Royal insiders say there has been a growing sense of urgency in Palace corridors since the pair appeared together at the Invictus Games in Toronto in September.
In the two months which followed, there have been multiple hints that the couple are set to formalise their 18-month transatlantic relationship.
Last week, Meghan arrived in London and was spotted looking relaxed during a shopping trip. Her beloved dogs, Bogart and Guy, are understood to be in quarantine in London.
In the past few days, a senior official from Buckingham Palace has been seen at Kensington Palace, in a breach of normal protocol.
Over the summer, it became clear Meghan’s legal affairs were being looked after by Royal solicitor Harbottle & Lewis, while planned building works at Kensington Palace raised the possibility of a new home in one of the apartments.
It has also been suggested the couple are hunting for a country retreat in either Norfolk, close to the Duke and Duchess of Cambridge’s home Anmer Hall, or in the West Country.
This year Meghan has spent time with Kate and William, met the Prince of Wales and the Duchess of Cornwall, and been introduced to the Queen who must give the marriage her blessing.
The Royal Family have confirmed that Prince Harry is to marry American actress Meghan Markle.
The couple have been together for over a year. According to Us Weekly, the royal met the actress while he was in Toronto, Canada, at the start of May 2016 for the launch of 2017 Invictus Games.
Click through our gallery for a timeline of their relationship
In terms of Royal protocol, it is unlikely that all of these things would have happened if Meghan was not set to marry into the House of Windsor.