The couple splashed out on the 13,000 square ft home, which sits on a 1.6-acre estate, in Encino, California and it is the first property they have bought together since they started dating in 2015.
According to Variety, the brand new home was designed by developer Evan Gaskin and the sale was conducted privately. It was originally put up for sale with a $14 million asking price.
It contains a four-car garage, a luxury kitchen, large swimming pool with a spa, a giant cabana, wet bar and outdoor kitchen.
Blake, 43, and Gwen, 50, have both sold their former marital homes in the past few years, with Gwen offloading the Beverly Hills mansion that she used to own with ex-husband Gavin Rossdale.
And Blake sold the Brentwood, Tennessee, property he owned with ex-wife Miranda Lambert, for $2.25 million back in January 2017.
Meanwhile, Blake recently insisted he and Gwen have ''got it easy'' amid the coronavirus pandemic.
He and Gwen are currently in quarantine on his ranch in Oklahoma, and despite having to recently cancel his tour, Blake thinks he's in a privileged position compared to most people.
The country star - who cancelled his tour plans on March 12 - said on Instagram Live: ''Gwen and I came straight to the ranch and got the rest of the family here and we've been on lockdown ever since.
''We're gonna be OK. We've got it easy. To cancel a tour, it's expensive, there's no way around it, but I can absorb that. I just hated it for the people that ... bought plane tickets or had hotel rooms booked.''
Meanwhile, a source recently claimed that Blake and Gwen, 50, are now ''stronger than ever'' as a couple.
The insider shared: ''They're living a quiet life in the country right now.
''They decided that separating themselves from city life was best for their family. Right now, they feel blessed to have a home they can escape to during this difficult time ... It is such a change of pace for everyone, and it's truly helped to remind them of how important having family time can be.''
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