At the opening of his restaurant Villa Azur in Miami Saturday, Martinez, 46, confirmed his engagement to Miami.com: "Yes, of course we're engaged!"
Berry, 45, first met French actor Martinez while working on the film Dark Tide; they stepped out as a couple in the fall of 2010.
The bauble was actually designed by Robert Mazlo, a jeweler from Martinez's Saint-Germain-des-Pres neighborhood in Paris. According to the actor-turned-restaurateur, Mazlo is "a real artist" whose family has been designing jewelry for "kings and queens for many centuries."
Berry, who has a 3-year-old daughter, Nahla, with ex-boyfriend Gabriel Aubry, has been married twice before. She wed former baseball player David Justice in 1993 and divorced four years later. She then married R&B singer Eric Benet in 2001, only to separate in 2003 and finalize their divorce in 2005. Martinez dated Kylie Minogue for several years before splitting in 2007.
A source previously told Us Berry "had given up on being married, but she trusts Olivier. He makes her feel safe. He's a keeper!"
- Olivier Martinez