Fallon, 38, and his 46-year-old wife are "overjoyed about the arrival of their beautiful daughter," their first child, the representative said.
Fallon has called his wife, who runs Flower Films with Drew Barrymore, "the coolest girl in the world."
They were married in December 2007.
Wisconsin business offering 'therapeutic cuddling' forced to close
N.J. man wakes up from 10-hour sleep with knife in back