Speculation is rife that wedding bells are set to ring for New Zealand's original reality TV lovebirds, Art Green and Matilda Rice.

Sources have told The Herald The Bachelor NZ star proposed while the pair were on holiday in Rarotonga this week, but are keeping the news under wraps ahead of an official announcement, believed to be with a weekly women's magazine.

However, this morning Green denied any proposal had taken place and said the couple were not engaged.

The couple, who met during the first season of The Bachelor NZ in 2015, have been in a serious relationship ever since Green chose Rice over 20 other women in the reality romance competition.

At the time, the couple were forced to keep their relationship under wraps for several weeks until the series finished screening.

But despite initial rumours their romance was all for show, the couple proved the naysayers wrong, documenting their blossoming relationship on social media.

The couple, who have more than 200,000 followers between them on Instagram, regularly post updates about their lives together, including exotic overseas holidays and joint fitness challenges.