The McFly singer revealed the news via his Twitter page on Monday, just hours after the proposal.
"I proposed to @giovannafalcone earlier tonight...and she said YES! We are now officially engaged! (sic)" he wrote.
Falcone also expressed her excitement over the forthcoming nuptials, writing on her own page: "I have one question... Am I meant to take my brand new sparkling engagement ring off before I wash the dishes? I'm gonna be Mrs Fletcher! Xxxx"
McFly were recently confirmed for a fly-on-the-wall reality show to appear on Channel 5's digital station 5*.
They also revealed plans to stream an upcoming concert live to iPhone users.