Elle Macpherson Debuts Giant Engagement Ring

Access Hollywood
Elle Macpherson spotted wearing a diamond ring at a private dinner for Barry the Dog fitness trainer ahead of his husky expedition across the Arctic at 3 Cromwell Road in London on March 26, 2013 -- Getty Images
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Elle Macpherson spotted wearing a diamond ring at a private dinner for Barry the Dog fitness trainer …

No matter how hard she tried, Elle Macpherson couldn't conceal her giant new sparkler at an event in London on Thursday.

After Access Hollywood broke the news earlier in March that the model had gotten engaged to real estate developer Jeffrey Soffer, the stunning former "Fashion Star" host stepped out rocking an enormous emerald-cut diamond solitaire on a plain band.

As previously reported AccessHollywood.com, Elle and Jeffrey dated for two years before breaking up last March.

MORE: Elle's Engagement Details!

Now, one year later, the 49-year-old Australian beauty and the Miami-based billionaire are set to wed, a source told Access.

This will be the second marriage for both Jeffrey and Elle, who was married to photographer Gilles Bensimon from 1986 - 1989.

PHOTOS: Celebrity Engagement Rings

Elle also has two sons from a previous relationship with Arpad Busson -- Arpad Arpad Flynn Alexander Busson, 15, and Aurelius Cy Andrea Busson, 10.

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