The royal couple are the proud parents of a baby boy!
"Princess Sofia gave birth to a healthy and prosperous child on Tuesday, April 19 at 6:25 p.m. Both mother and child are doing well," Sweden's Royal Palace revealed in a statement, adding that the baby weighed in at 7 lbs., 9 oz. and 19.3 inches long.
The palace also shared that Carl Philip was in the hospital room during the birth.
The couple traveled on Tuesday evening from their new home at Drottningholm Palace to Danderyd Hospital, which is north of Stockholm.
During a press conference outside of the hospital, Carl Philip thanked everyone for the well wishes.
"For me and my wife , this is obviously a great day with a lot of emotion," he said. "Words cannot describe."
When asked who the baby looks like, the prince said it's too soon to tell, but he did reveal that he's dark-haired! The prince also revealed that he cut the umbilical cord himself. "We are so excited," he shared.
There had been widespread speculation about whether the newborn would be a boy or a girl – although the parents-to-be insisted that they welcomed the element of surprise.
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The new baby is fifth in line to the Swedish throne, official diplomatic sources confirm to PEOPLE.
Queen Silvia was in New York preparing to deliver a speech to the United Nations when her son and daughter-in-law welcomed their baby boy. "It was a bit difficult. I was sitting here in the meeting, it was very interesting and important," she told Swedish reporters. "I'm so happy, really. All is well, and both the Princess Sofia and the baby are doing well. I'm walking walk on clouds!"
Sofia, who kept up her official engagements throughout her pregnancy, joins her sister-in-law Princess Victoria in welcoming a new little one – Prince Oscar was born on March 2. And we know at least one adorable 4-year-old princess who is over-the-moon excited about the two new arrivals!