The 'Cocoa Butter Kisses' hitmaker proposed to his longtime love as they attended an Independence Day party on Wednesday.
In a video shared online, the 25-year-old rapper can be seen getting down on one knee before saying to his now-fiance, "Kirsten Katrina Corley, will you make me a man and be my wife?"
When she said yes, the couple's daughter Kensli, two, was called over to join in with the celebration.
Following the party, Chance's brother Taylor Bennett posted a congratulatory message to the couple.
He wrote: "Proposed In The Hunninds! @chancetherapper You A Real One! 7-4-18 #BlockBoys (sic)"
Earlier this year, Chance posted a gushing birthday tribute to his wife-to-be, where he called her his "best friend" first and foremost.
He shared: "From the beginning beginning to the end end. You are my oldest and best friend. You are responsible for everyone of the most wonderful things in my life. I’m forever grateful that God made me find you, and even more grateful that you made me find God. Forever and ever babe. Happy Birthday."
Chance and Kirsten previously split up following the birth of their daughter and they attended court to decide on child support. However, the friendly exes managed to keep things simple, with a lawyer for Kirsten saying at the time: "This case ended quickly because of the unusually high level of cooperation between the parents putting their child's best interest first."
Following their brief split, the pair got back together.