A rep tells People that the former Dancing with the Stars contestant, 48, is engaged to former thirtysomething star Timothy Busfield, 55.
"They are engaged and both are incredibly happy," says the rep.
The couple's nuptials will mark the third "I do's" for each of them. Gilbert was previously married to Bo Brinkman and Bruce Boxleitner, while Busfield was married to Jenny Merwin and actress Radha Delamarter.
A source told People that the engagement took place over the holidays.