The former Girls Next Door star shared her happy news with fans on Monday evening (24 June), saying Pasquale popped the question over the weekend while at a funfair in Las Vegas.
"He proposed to me at the top of the Ferris wheel at EDC Las Vegas," she wrote. "I was so happy that so many of our close friends were there to share the wonderful moment with us! We rode around the festival on the art car until the sun came up! I couldn't have asked for a more wonderful or magical proposal!"
Holly, who previously dated Hugh Hefner, added on Instagram: "Thank you pasqualerotella for the most special night of my life! I can't wait to be your wife."
Pasquale added on his own Twitter account that although he and Holly had discussed marriage before and even gone as far as picking a date, he hadn't actually got down on one knee until Sunday.
"I know we have a set date already but I officially asked this morning. She said yes!!" he wrote.
It's been a very good year for Holly and Pasquale so far. Not only are they now engaged, but they also welcomed their first child together, daughter Rainbow Aurora, in March.