The Princess, 30, just announced her engagement to 34-year-old Mozzi on Thursday by way of an official statement from Buckingham Palace.
“The Duke and Duchess of York are delighted to announce the engagement of Princess Beatrice to Mr. Edoardo Mapelli Mozzi,” the statement read.
The Palace states that Mozzi proposed to Beatrice during a romantic vacation the pair had taken to Italy earlier in September. The pair are targeting a 2020 wedding, and shared a joint statement emphasizing their elation over their impending marriage.
"We are extremely happy to be able to share the news of our recent engagement. We are both so excited to be embarking on this life adventure together and can’t wait to be married," the statement read. "We share so many similar interests and values and we know that this will stand us in great stead for the years ahead, full of love and happiness."
The Duke and Duchess of York expressed well wishes for the pair as well.
"We are thrilled that Beatrice and Edoardo have got engaged, having watched their relationship develop with pride. We are the lucky parents of a wonderful daughter who has found her love and companion in a completely devoted friend and loyal young man. We send them every good wish for a wonderful family future."
Beatrice's sister Princess Eugenie posted a stunning snap of her "dearest big sissy and dear Edo," barely able to contain how excited she is about the pair's upcoming nuptials.
"Beabea - wow! I'm so happy for you my dearest big sissy and dear Edo. It's been a long time coming and you two are meant to be. by me!!" she captioned the photo.
The Queen's granddaughter has been quoted as being "completely head over heels" with Mozzi, according to an insider, speaking to PEOPLE. Beatrice known Edoardo for years, though their relationship only turned romantic a bit more recently.
Previously, Princess Beatrice dated Dave Clark for nearly a decade before their 2016 split. Her romance with Edoardo has progressed fairly quickly, as the pair were officially spotted together beginning in March 2019.
With another royal wedding on the horizon, of course we have to wonder what the festivities will be like. Congratulations to the happy couple!