Hilary Swank Is Engaged! Inside Her Romantic Engagement Weekend With Fiance Ruben Torres

The Oscar winner showed off her engagement ring after a romantic hike.

Hilary Swank's engagement ring looks like a million dollars, baby! (Sorry for the bad pun.)

The 41-year-old Oscar winner announced on Instagram on Tuesday that her tennis coach boyfriend, Ruben Torres, proposed. "Went on a hike and this happened! I am so happy to share with you all, the engagement to my dear Ruben," she wrote alongside a smiling selfie where she shows off the gorgeous ring.

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Swank posted the picture on Twitter as well and wrote, "Sooooooo this happened!!! #heputaringonit LOL #loveisintheair" She followed it up with a sweet PDA pic, tweeting, "And then this happened....#sealedwithakiss"

A source tells ET the proposal went down when the couple, who has been dating since last summer and made it red carpet official in December, were in Palm Springs, California over the weekend for the BNP Paribas Tennis Open.

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After she said 'yes,' Swank and Torres attended Moët & Chandon's "Holding Court" dinner on Saturday night where they were apparently "giddy" and "inseparable." The mood continued into the next day when they watched the tennis finals and "held hands and barely left each other's sides," we're told.

This will be Swank's second time down the aisle, after her 10 year marriage to her Quiet Days co-star, Chad Lowe, which ended in 2007. The Boys Don't Cry actress infamously forgot to thank Lowe when she won her Best Actress Oscar in 2000, but made up for it in 2005, when she won for Million Dollar Baby.

In other engagement news, Ciara recently flashed her giant 16-carat ring in her first post-engagement appearance with Russell Wilson. Check it out in the video below.