Hefner, 86, and Harris, 26, are planning to tie the knot on New Year's Eve, according to the report. The news comes after Harris reportedly moved back into the Playboy Mansion earlier this year.
The couple first became engaged in December 2010 and planned to marry in June 2011. However, Harris called off the wedding just five days before the ceremony was set to take place. Harris later said on Howard Stern's radio show that sex with the Playboy CEO lasted "like two seconds." Hefner said in a separate interview that "I don't know what I was thinking about" and that being single was his "natural state."