The Livin' Da Vida Loca singer, 44, announced the happy news on The Ellen DeGeneres Show, telling Ellen that the pair first found a connection through Jwan's art.
'I saw his art and I went crazy because I really love what he does. Really original. And I contacted him and then I collected him,' he said.
However, when asked how the moment went when he actually popped the question, Ricky exclaimed 'bad!'
'He was like, "Yes." I said, "I want to spend my life with you" and he was like, "what is the question?" "Would you marry me?"', he explained.
'Yeah it was very beautiful. And then 30 minutes after I said, "Did you say yes?" Yes, he said "yes"'.
Ricky and Jwan pictured together in April 2016
During the show, Ricky sported his engagement ring - a simple silver band - as he opened up about the pair's year and a half long relationship, which they made public on social media in March of this year.
Ricky is also dad to eight-year-old twins Matteo and Valentino, who were born to a surrogate mother in August 2008.
Telling Ellen that his children have a great relationship with Jwan, he added that he couldn't wait for his partner to become a stepdad.
'They love each other! It's been perfect, Ellen. It's been very special,' he said.
The wedding will be the first marriage for Ricky, who came out as gay in 2010 with a statement on his website which read: 'I am proud to say that I am a fortunate homosexual man. I am very blessed to be who I am'.
And the marriage wasn't the only exciting news Ricky was discussing on the show - he's also just revealed that he's got a 5,200 seat residency at the Park Theater inside Monte Carlo Resort and Casino in Las Vegas.