"It was so romantic -- Zayn popped the question over the weekend when they were alone together," a source told the newspaper.
"It's one of the first weekends they've spent with each other, as they've both been on tours with their bands. He wanted to wait for the perfect moment," the insider said. "All her band-mates were at V Festival, and she couldn't wait to tell them. They're all really excited for her, as the rest of One Direction are for Zayn."
Edwards showed off her diamond engagement ring at the London premiere of the One Direction movie "This is Us" Tuesday night, the Mirror said.
Malik and Edwards, who are both 20, have been dating since 2011.
The newspaper didn't report an anticipated wedding date.