The 33-year-old royal and his 36-year-old girlfriend has been dating for over a year now, and it is rumoured the pair are already engaged, but have reportedly decided not to announce the news yet because they want to "enjoy" their special moment together before it is broadcast across the globe.
Speaking about the red head's relationship to Us Weekly, a source said: "Harry always planned to share the news only with fail at first so he could enjoy it before word spread.
"But they will make an official announcement soon."
And it has been reported the reason the 'Suits' actress and Harry have been so quiet about their love life is because it would be a "security nightmare" if they were to open up about their supposed engagement whilst Meghan is still filming the popular TV show because she would need to be "followed" everywhere by bodyguards.
The insider continued: "It'd be a security nightmare to do it sooner.
"She'd be followed everywhere."
During Meghan's recent visit to London she was spotted being chauffeured around England's capital in a black Volkswagen vehicle, which has set tongues wagging she is engaged to Harry, especially because the Duchess of Cambridge was driven around in a dark Audi A3 prior to her official engagement announcement.
And it is believed Meghan has been bombarded with requests from numerous fashion designers asking if they can make her wedding dress when her and Harry tie the knot.
Speaking previously, British designer Giles Deacon - who created Catherine's sister Pippa Middleton's dress when she married her partner James Matthews in May - said: "If Meghan Markle was in any way interested, I would be more than delighted. But I'm sure she's got plenty of people on her list."