Alongside a photo which appeared to show her wearing an engagement ring, Price wrote on Instagram: “I said yes!”
The television personality, 42, formerly known as glamour model Jordan, announced today that Woods, 32, asked her mother Amy for her permission before getting down on one knee.
She told OK! magazine: “We’d spoken about it a lot, so I knew he was going to, I just didn’t know when. It was amazing.” Price said the “full story” would be in next week’s OK! magazine.
Woods also took to Instagram to share their happy news.
He wrote: “She said yes!”
The pair have been together for about 10 months.
In January, Price told Channel 4 programme Steph’s Packed Lunch that her and former Love Island star Woods “got to know each other very, very quick”.
She added: “And we will get married this year… It is the real deal because it’s forever.”
The former glamour model who is a mother of five, revealed earlier this year she would like to have another baby with Woods.
It comes six weeks after the star’s divorce from third husband Kieran Hayler was finalised. They split three years ago amid cheating allegations against Hayler after five years of marriage.
Last month she told The Sun: “Finally, we’ve signed the divorce papers. I’m so happy that I’m free from that marriage. The only good thing that came out of it was my children.
“I can now continue my life with all the badness behind me. All I can do is wish him luck. I can’t wait to continue my life with Carl.”
Price has been married on three previous occasions to singer Peter Andre, Alex Reid and Hayler.
Price is mother to son Harvey, 18, whose father is Dwight Yorke.
She shares Junior, 15, and Princess, 13, from her previous marriage to Andre.
Her son Jett, seven, and daughter Bunny, six, are from her third ex-husband Hayler.
She has been engaged eight times.
In 1996, aged 18 she got engaged to Warren Furman, the former Gladiators star. They spit two years later.
She was engaged to Scott Sullivan until 2004 or just before she entered the I’m A Celebrity Jungle - where she famously met Andre.
After her split from Andre in 2009 she met Reid, a cage fighter, who she married in 2010.
She was briefly engaged to model Leandro Penna in 2012 before she met Hayler and married him that same year.
Following her split from Hayler, in July 2019, Katie announced she was engaged again to personal trainer Kris Boyson after a year of dating.
This is therefore her eighth engagement.