The `America`s Next Top Model` host is said to be smitten with the mystery man after meeting him on a "spiritual break" in Bali, which she went on to get over her split from long-term boyfriend John Utendahl.
A source told People magazine: "It`s a total long-distance romance. But it`s a big deal."
Tyra met her beau on her trip around Bali last month and after flying home to New York, she turned right around and flew back to Bali to spend the Christmas holidays with him.
Tyra separated from banker John in December after three years together and decided to seek solace in the Far East with a female friend.
A source said: "Tyra has gone away with a female friend and has been island-hopping, visiting Bali and taking a spiritual retreat."
News of the couple`s split comes as a shock as earlier this year Tyra admitted she wanted to have a baby.
The former supermodel said: "I definitely want babies."