The entrepreneur and actress has revealed she is consciously coupling with producer Brad Falchuk, saying they feel 'incredibly lucky'.
In a joint statement to Good Morning America, Gwyneth and Brad confirmed their engagement, saying, "We feel incredibly lucky to have come together at this juncture in our lives when our collective successes and failures can serve as building blocks for a healthy and happy relationship."
Gwyneth, 45, and Brad, 46, have been dating for more than three years and first met on the set of Glee - which Brad produces - when she guest-starred in a number of episodes.
In the second issue of her lifestyle magazine Goop, Gwyneth - who features on the cover with her fiancé - opens up on how, at "midlife", she has learnt to accept the complexities of romantic love.
"I have decided to give it a go again, not only because I believe I have found the man I was meant to be with, but because I have accepted the soul-stretching, pattern-breaking opportunities that (terrifyingly) are made possible by intimacy," Gwyneth said.
Gwyneth is no stranger to high-profile relationships, having previously been married to Chris Martin, engaged to Brad Pitt and in long-term relationships with Ben Affleck and Luke Wilson.
Gwyneth now admits she's learned from these experiences, having identified two patterns she'd slip into during previous relationships. "One where I was constantly chasing and trying to win someone over, and one where I was put off by the person's capacity for the relationship - and those relationships were very short-lived".
Speaking about her relationship with Brad, Gwyneth says, "For the first time, I feel like I'm in an adult relationship that is sometimes very uncomfortable - because he sort of demands a certain level of intimacy and communication that I haven't been held to before."
In Goop's letter from the editor, Gwyneth says "[Love] sometimes eludes us, can disappoint us, excite us, leave us in tatters or feeling delightfully fed. It is anything but binary. It is mostly gray area, full of subtlety, and sometimes very painful."
Like Gwyneth, Brad is also divorced and has two children from his previous marriage.
Rumours of the couple's engagement have been circling since Gwyneth posted a photo to Instagram of ex-husband Chris having brunch with Brad and the hashtag #modernfamily.
Chris and Gwyneth were married in 2003 and had two children together, and made headlines in 2014 when they famously announced that they were "conscious uncoupling". Their divorce was finalised in 2016 and the two remain friends.