It's official – Love is dead. Paris Hilton has reportedly called off her engagement to fiancé Chris Zylka after dating for nearly two years.

The couple had been engaged since last New Year's, when the 36-year-old socialite said "yes," to the 32-year-old actor on a ski trip in Aspen. The ring was said to be worth $2 million.

Sources close to the couple told TMZ that Paris was indeed the one who broke it off with Zylka weeks ago. Apparently Hilton now thinks he is not "the one" and that things moved too fast between them.

While the news just broke early Monday morning (November 19), Hilton posted a hopeful-yet-cryptic message on Instagram late Sunday night. "What made her strong was despite the million things that hurt her. She spoke of nothing but happiness," the caption reads.

It is not confirmed if this post is in reference to the break up in any way, but the caption is ironically appropriate to the news.

We first wondered if there was trouble in paradise back in August when the couple's wedding was delayed, allegedly due to Paris' busy schedule promoting her fragrance and skincare line.

Just a few weeks ago, TMZ caught up with Paris at LAX without her boyfriend, which the reporter at the scene said was a first since the two started dating. She was still wearing her engagement ring and said Zylka was merely traveling on business. She did not, however, offer any update on the delayed wedding.

The source says Paris hopes the two will remain friends and wishes Zylka the best. This is Hilton's third engagement after splitting with Paris Latsis in 2005 and model Jason Shaw before that in 2002.