The 35-year-old actress and her Spanish actor boyfriend Javier Bardem have told friends they are planning to tie the knot in the near future.
A source told the New York Daily News newspaper: They're telling friends they will get married.
No further details of the engagement or nuptials have been released, and the couple’s representatives have not confirmed the reports.
However, those close to the pair have denied claims they are expecting a baby.
Speculation Penelope was expecting began swirling in the summer, with rumours reaching fever pitch after the pair were seen leaving an obstetrician’s clinic in Madrid last month.
A pal explained: They say the pregnancy stories aren't true.
In August, Penelope claimed she was uninterested in tying the knot.
She said: I don't know if I believe in marriage. I believe in family, love and children. When I have children, I want to do it really well. I want it to be my best project in life.
