The 47-year-old Ultimo lingerie founder revealed she and her beau are set to wed in a sweet Instagram post she shared with fans on Wednesday.
In the snap, Michelle cuts a glamorous figure alongside her businessman boyfriend, 53, with the blonde beauty adding a ring emoji across her photo and the caption: 'I said yes.'
She and Doug - who is believed to own 50 businesses - have been dating for the last two years and currently live together.
Clearly thrilled by her partner's proposal, Michelle is seen beaming in her Instagram upload while cuddling up alongside Doug - who she first met at a business dinner - in front of their Christmas tree.
She is seen clad in a sophisticated black dress that boasted a sultry keyhole cut at the chest. Leaving her blonde locks down in glamorous curls, Michelle sported a glamorous make-up look.
Doug, meanwhile, was suited and booted in black and white tux and bow-tie.
Posing with her husband-to-be, Michelle kept fans guessing when it came to her engagement ring, as she hid her left hand from view.
This will be Michelle's second marriage, as she was previously wed to ex-husband Michael Mone. They share three children; Rebecca, Bethany and Declan, and confirmed their separation in 2011.
They had founded lingerie brand Ultimo together, launching it 1999.
Following the breakdown of their marriage, Mone briefly left Ultimo before returning and buying out her former partner. She stayed with the brand until 2015 - resigning after 17 years.
In her autobiography, Mone apologised for the 'woman I became' in the wake of her marriage split, confessing she put her ex-husband's cufflinks in the bin, let down his tyres and cut holes in his boxer shorts.
MailOnline
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