Hugh Hefner and Crystal Harris are on their way to happily ever after!

The Playboy founder, 86, and his model girlfriend, 26, tied the knot in an intimate ceremony on New Year's Eve at the Playboy Mansion in Los Angeles, a mansion source tells Us Weekly.

Originally announcing her engagement to Hefner in December 2010, Harris called off her first wedding in June 2011 just days before the ceremony.

One year later, Harris confirmed via Twitter that she had reconciled with her ex. The couple cemented their plans to walk down the aisle once more in early December when they obtained a marriage license in Beverly Hills and Harris proudly debuted her new engagement ring. (She auctioned off her first ring — worth an estimated $90,000! — at NYC auction house Christie's in October 2011.)

Taking special care to keep her second ceremony private, Harris — who recently opened her own lingerie store, Femme Fatale, in Studio City, Calif. — says her renewed bond with Hefner is solid.

"When the wedding didn't work out the first time, it was because of me. I needed to explore out there and take the time away [from Hef and the Mansion]. The time away really helped make me realize that where I'm meant to be is here with Hef," Harris tells Us Weekly. "Our relationship is better than it ever has been before. I'm very happy and Hef's very happy and we're excited."

Former Girls Next Door star Harris is the Playboy mogul's third wife. He married Mildred Williams in 1949 and the couple had two children together — Christie and David — before calling it quits in 1959. Hefner married Kimberley Conrad, the mother of his sons Marston and Cooper, in 1989 and filed for divorce in 2009 after an 11 year separation. Previous girlfriends of Hefner's include Holly Madison, Kendra Wilkinson, Bridget Marquardt and Brande Roderick.