The All My Children star, 37, will tie the knot with beau Michael Benson, she confirms to PEOPLE exclusively.
"We don't have any wedding plans yet," Budig says. "He's an amazing man and we're just really happy."
Benson, a television marketing executive, proposed on Christmas Day with a ruby and an old European cut diamond in platinum and yellow gold circa 1935 from Platt Boutique Jewelry.
"It's a really unique design and it’s really stunning," says Budig, who met Benson nine months ago.
This will be the actress's third marriage. She divorced her second husband, former Bachelor Bob Guiney, in 2010 after 5 years of marriage.