The 58-year-old singer has announced she plans to tie the knot with Phillips, who popped the question while the pair were holidaying in Hawaii last August, reported People magazine.
The star was completely caught off guard when Phillips got down on one knee so 'it wasn't a fast yes'.
"I had no clue. I couldn't understand why he was so nervous," La Toya said.
The TV personality, who is the fifth child of the Jackson family, is completely smitten with her fiance, who she has always seen as her best friend.
The romantic proposal involved Phillips arranging a romantic dinner of La Toya's favourite foods, including chicken soup, before surprising her with a 17.5 carat diamond ring.