The singer and actress will marry former Hell's Angel Tim Medvetz in a 'quickie' ceremony in Las Vegas, The Sun reports.
Cher, 66, and Medvetz, 42, dated once before in 2008 but split due to the pressure of Cher's schedule on their relationship.
Their wedding will reportedly come at the end of a cross-country motorbike trip that the pair will take.
According to reports, both of Cher's sons advised her that she should give the relationship another chance.
A source added: "This is Cher's last chance at love, and she has her sons Chaz and Elijah Blue to thank."
The 'Turn Back Time' singer has been married twice before, first to the late Sonny Bono who she later divorced and then to Gregg Allman. Cher separated from Allman after two years.
The star has also had a number of other high-profile relationships with celebrities such as Tom Cruise, Warren Beatty and Eric Clapton.
Watch the video for Cher's 1998 single 'Believe' below: