A spokesperson for the Austin Powers star confirmed in May that the actor's wife Kelly Tisdale was pregnant with the couple's first child.
Today, Myers's rep revealed that the pair welcomed a baby boy two weeks ago.
"He is healthy and his parents are ecstatic," Myers's rep told E! News.
Myers and Tisdale wed in 2010, but did not announce the news until this past March.
Last month, the 48-year-old signed on for a fourth instalment in the Austin Powers franchise.
There is no word as of yet on whether Jay Roach, director of all three previous movies, will return for the next picture.
Watch the trailer for Austin Powers: International Man Of Mystery below: