The Spanish actress has released a statement through her spokesperson confirming she is expecting her first child with husband Javier Bardem.
The 36-year-old beauty was photographed recently with what seemed to be a baby bump while shooting scenes for `Pirates of the Caribbean: On Stranger Tides` and it has now been revealed she is four-and-a-half months pregnant.
Penelope has been notoriously private about her life, marrying 41-year-old Javier in a secret ceremony in the Bahamas in early July.
However, she has previously confirmed her desire to have children, although she confessed she would be happy to adopt.
She said: "I`d love to have kids. Maybe I`ll adopt about 20 children - that`s been my dream since I was a little girl. I want to have my own kids, but also adopt. For a while I`ve had the feeling that my life won`t be complete if I don`t adopt.
"I think I would be a perfect mother. I love babies."