The talk show host made the announcement on the "Today" show on Monday morning.
"I have to tell you something. A friend of mine, a friend of ours, asked me to let you guys in on a secret," Kotb told her co-hosts on Monday."Her [name is] Hoda Kotb and she’s engaged."
The mom of two then held up her ring finger to show off her engagement ring while her co-hosts were in complete shock by the news.
Schiffman and Kotb began dating in 2013 and are parents to daughters--Haley Joy and Hope Catherine.
The couple celebrated six years together in June.
“Yesterday marked 6 years with this incredible man. 6 years..2 children..2 new jobs...1 grateful heart,” Kotb wrote at the time.
“Ps thank you @jolamathisen and #tyler .. if it weren’t for you two.. we never would have met on that night,” she added to her friends who set her up with Schiffman.
Kotb opened up about her relationship with Schiffman, a financier, back in 2015 after going public with their relationship.
She gushed over Schiffman on "Watch What Happens Live," hosted by Andy Cohen.
"You know, I met him a couple of years ago. He's the greatest guy ever," she said at the time.