Judging by her social media accounts, the answer is yes!
Though neither musician has officially commented on the rumors, the Anaconda rapper did post an Instagram photo featuring an enormous heart-shaped diamond on her left ring finger yesterday.
On Tuesday, 32-year-old Minaj sent the rumor mill into overdrive after posting a photo with Meek Mill in Miami.
After fans pointed out the musician's new jewelry, the musician responded on Twitter saying "I'll post it later", along with a string of diamond emojis.
That was followed up with a photo of the massive ring, estimated to be worth $500,000.
Minaj and the 27-year-old rapper have reportedly been dating since February.