The 39-year-old actor announced the engagement news on his Twitter page by posting a picture with his boyfriend at Taj Mahal.
"It only took 9 years but it's official! Just got engaged at the Taj Mahal to Ryan Corvaia! YEEEESSSS!," Malik posted.
Corvaia is the founder and owner of New York City-based catering and hospitality company Dish Food & Events.
Pancholy came out as gay in the November issue of Out magazine where he discussed his relationship with Corvaia.
The actor, who currently voices the title character on Nickelodeon's animated comedy series, had protested against Indian Supreme Court's decision to uphold a law that criminalises gay sex.