The 25-year-old, who plays the gobby Kylie in the Weatherfield serial, has been dating fellow actor Tom Shaw since she was 17.
She wrote on Twitter: "Yesterday was the most amazing day! I went to York a girlfriend and came back a fiancée."
Back in April, Lane spoke of her intention to marry Shaw, whom she met eight years ago.
The star's current contract with Corrie ends in 2012, after it was extended earlier this year. She has been with the soap since 2010.
Her on-screen half-sister Katherine Kelly (Becky McDonald) recently filmed her last scenes on Corrie. Becky will leave the cobbles in the New Year.