The cage fighter revealed his intentions last night as he flew out of Britain.
He told the News of the World: "I'm definitely asking her to marry me and I'm convinced she's going to say yes. I might pop the question on TV.
"One idea is I make the proposal in front of cameras on the show, but whatever happens, I know this is right. I've never felt this way before.
"I'm convinced Katie's going to feel the same way. I know what we're like when we're together. When I'm with Katie it's full-on 24/7.
"She ended the Pete chapter of her life in that jungle. Now it's time for her to start a new fairytale. But this time I think it'll go the distance."
Reid also revealed that he has been saving for an expensive engagement ring.
He stated: "I want the very best I can afford. Katie has very delicate hands and very specific tastes.
"I've picked out a design of a pink diamond in an ornate setting. I'm going shopping in the next few days on the way to Australia.
The 34-year-old added: "I already have one in mind but I'll have to see what takes my fancy when I go to the jewellers. It will be a ring fit for the princess she is. One she can love and cherish forever."
He said that he has not even considered the possibility that Price might reject his proposal.
"I know what I want and I'm going to get it," he insisted. "This love is worth fighting for. I'd do anything to make it happen.
"Everything that's happening right now is what I've always wanted. I've actually envisaged this for many years."