The `Black and Yellow` hitmaker took to his twitter account to reveal the model accepted his proposal after more than a year together.
In a message accompanied by the picture of the 28-year-old beauty`s engagement ring, he tweeted: "She Said Yes!!! (sic)"
Following the announcement, Amber took to her twitter account to express her joy.
She wrote: "He has made me the Happiest Woman in the World!!!! (sic)."
The couple got together following Amber`s split from rapper Kanye West, and the newly engaged pair have collaborated a number of times.
Wiz features on Amber`s debut single `Fame`, while she is set to appear on his forthcoming mixtape `Taylor Allderdice`, which is due for release on March 13.
The hip-hop star recently said he is "having a great time" in life and is enjoying "getting new fans".
He explained: "Me, where I come from we made everything on our own. It`s a process of just recreating what we already know how to do and just taking it to the next level, and I`m having a great time. I`m getting great new fans and doing new things."