Rapper Drake has reportedly gifted Jennifer Lopez a $100,000 diamond necklace.

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The 'Hotline Bling' hitmaker is rumoured to be romancing the Latina superstar and he surprised Lopez with the special Tiffany & Co. gift as they prepared to celebrate the New Year together, reported People magazine.

Drake presented her with a Tiffany Victoria necklace, which features over 15 carats-worth of round, pear and marquise-shaped diamonds set in platinum.

Lopez, 47, appeared to show off the new jewellery in an Instagram photo from her New Year's Eve celebrations, when she teamed the diamonds with a sexy red dress and a fur cover-up.

She also rocked diamond earrings, a diamond bracelet, and a large diamond ring on her right hand.

The stars have been romantically linked since early December, when Drake, 30, attended two of Lopez's residency gigs in Sin City back-to-back and hosted an intimate party she attended.

They continued to fuel the relationship speculation by sharing a cosy photo of the pair embracing on social media, before appearing at a fake winter wonderland-themed "prom", during which they were crowned the king and queen of the event.