The 34-year-old hotel heiress has been photographed kissing businessman Thomas Gross onboard a yacht off the coast of Spain, reported Contactmusic.
Hilton will be staying at her new man's pad during her upcoming summer DJ residency in Ibiza.
Gross, 39, is said to be worth at least 125 million pound, double Hilton's own estimated net worth.
The socialite was most recently linked to "Man of Steel" hunk Henry Cavill, after they were spotted together at a Golden Globes pre-party in Los Angeles in January.