Phillippe and Slagter have been together for at least four years

By Caitlin Keating
Updated January 02, 2016 01:30 PM
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Credit: Seth Browarnik/Startraks

Ryan Phillippe‘s fiancée Paulina Slagter showed off her most important piece of bling for the first time on New Year Eve – herdiamond engagement ring.

Wearing a strapless green dress, Slagter, 24, who is a law student at Stanford, celebrated her engagement with Phillippe, 40, at the Five Star New Years Eve event on Watson Island in Miami.

As PEOPLE previously reported, the couple got engaged over the Christmas holidays.

Back in April, Phillippe spoke to Howard Stern’s SiriusXM about his then-girlfriend.

“She’s awesome. When people see her they have these judgments because she could be a model but she’s about to graduate Stanford Law,” he said. “Also what’s great about it – as you get older certain issues become more important to you. I’m very involved in civil rights issues, and so to be with a woman who could actually make an impact in the legal realm – that’s a beautiful thing.”

This will be Phillippe’s second marriage. He was previously married to actress Reese Witherspoon, with whom he shares two children with, Ava, 16, and Deacon, 12. He was previously in a relationship with Alexis Knapp, with whom he shares a 4-year-old daughter, Kai.