The Still The One singer and Frederic Thiebaud are set to marry after the Swiss-born Nestle business executive popped the question two months ago in his native country.
A friend of the singer told Us Weekly magazine: "I've never seen Shania so happy. She has ended up with the love of her life."
Shania was previously married to Robert 'Mutt' Lange but their 14-year union ended in May 2008 after he embarked on a relationship with her friend, and Frederic's ex-wife, Marie-Anne Thiebaud. She has often spoken about how her new fiancé helped her through the tough times.
Writing on her official website, she called Frederic "a dear friend and true gentleman ... We leaned on one another through the ups and downs, taking turns holding each other up. We've become stronger and closer through it all".
Shania - who has a nine-year-old son, Eja, with her ex - has previously admitted she wanted to "go away and disappear" when her marriage ended.
She said: "I feel like in a way I'm starting over, with everything ... I was in a very deep, dark slump, and I needed to find a way to get myself out of it. I had to force myself back out into life, back out into experiencing things.
"There were moments when I really just thought, 'I don't need anything and I don't need anyone. I just want to go away and disappear.' So, that was a bad slump."
- BANG! Showbiz