The former The Bold and the Beautiful soap star, 52, and his 23-year-old lover Shawna Craig will exchange vows on 4 July (10) on Catalina Island, off the coast of California, according to the National Enquirer.
A family insider tells the tabloid, "They're marrying at the historic Avalon Hotel. They've planned an intimate ceremony overlooking the ocean with a small reception to follow. They've invited only about 30 people."
Lamas' ex-wives include former Playboy Playmate-turned-actress Shauna Sand, who he divorced in 2002.