"I found the love of my life in Peyton," Lambton toldLife & Style. "We are so incredibly happy together. She was worth the wait."
Wright -- a 28-year-old cheerleader apparel salesperson from Dallas, TX who was a bachelorette on Andy Baldwin's The Bachelor edition and also competed on the show's Bachelor Pad spinoff last summer -- is thrilled about becoming a bride-to-be.
"Thank you everyone! Chris and I are so happy!!! Wright wrote on her Twitter account Monday.
According to People, Lambton to proposed Wright at his father's Cape Cod home on Saturday.
Lambton and Wright began dating last fall but did not confirm they were in a committed relationship until January.
The Bachelor producers had initially targeted Lambton -- who was rejected by Ali Fedotowsky during the finale of The Bachelorette's sixth edition -- as the star of this year's fifteenth season which featured Brad Womack.
However, the 34-year-old landscaper and former teacher from Dennis, MA, was hesitant to accept the role and eventually declined the offer.
"That's just not me," Lambton told People. "Sitting at home and watching the season with my family weirded me out. I wanted to find love on my own and not in that type of situation, so I said, 'You know what? I'm not going to do it.'"
While Lambton wanted nothing to do with The Bachelor again, Wright has said she still enjoys watching the show.