The good news, officers has recovered the ring.
Fortunately, photos of the couple were captured by nearby security cameras, so police released the images in hopes that they will help them make sure the ring gets back to its rightful owners.
Their proposal went wrong when he dropped the ring down a utility grate - but the NYPD found it and is trying to track them down.
The couple asked police for help, but emergency service officers could not immediately find the sparkler.
Even better, they cleaned the ring.
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'She said Yes - but he was so excited that he dropped the ring in a grate'.
The only problem: The NYPD is still searching for the couple.
It doesn't show the moment the man pops the question but we do see him getting down on one knee in an attempt to find the ring. He has short brown hair and a manicured beard.
More than 350,000 people visit Times Square in midtown Manhattan every day.