The couple will make an official engagement appearance on Monday afternoon before taking part in a broadcast interview which will air in the evening.
Shortly after the announcement, a Buckingham Palace spokesman told CNN that Harry's grandmother, Queen Elizabeth II, and her husband, the Duke of Edinburgh are "delighted" for the couple and "wish them every happiness."
Kensington Palace also released a statement on behalf of Markle's parents, Thomas Markle and Doria Ragland.
"We are incredibly happy for Meghan and Harry. Our daughter has always been a kind and loving person. To see her union with Harry, who shares the same qualities, is a source of great joy for us as parents.
"We wish them a lifetime of happiness and are very excited for their future together," the statement ended.
Harry's brother, William and his wife, Catherine, who also reside at Kensington Palace, shared their joy at the impending union on Monday.
"We are very excited for Harry and Meghan. It has been wonderful getting to know Meghan and to see how happy she and Harry are together," they said in a statement.
Monday's announcement ends persistent speculation over when the 33-year-old prince -- who is now fifth in line to the British throne -- would propose to the actor.
info and image source: http://edition.cnn.com/2017/11/27/europe/prince-harry-meghan-markle/index.html