The Chicago-born lyricist, 25, proposed to his longtime girlfriend, Kirsten Corley, at a Fourth of July party.
In footage posted by The Shade Room, Chance is seen getting down on one knee before Corley.
Family and friends are cheering in the background as the rapper asks her to make him a man by being his wife.
As she accepts his proposal, Chance grabs their 2-year-old daughter, Kensli Bennett, for a group hug. The pair have been dating on and off since 2013.
Following the big news, Chance, whose real name is Chancelor Jonathan Bennett, took to Twitter to voice his excitement, writing, “She said yes.”