The Royal family has a new little Prince ... and we've finally learned his name!

"The Duke and Duchess of Cambridge are delighted to announce that they have named their son George Alexander Louis," says Clarence House. "The baby will be known as His Royal Highness Prince George of Cambridge."

On Monday, Prince William and his wife Catherine, Duchess of Cambridge (Kate Middleton) welcomed their first child together.

Their baby boy came in at 8 pounds, 6 ounces and was born at 4:42PM (London time). Upon Prince George's birth, Prince William released a statement explaining that he and Kate "could not be happier."

Likewise, Will's father (the Prince of Wales) and his wife, the Duchess of Cornwall released the following statement about their first grandchild:

"Both my wife and I are overjoyed at the arrival of my first grandchild. It is an incredibly special moment for William and Catherine and we are so thrilled for them on the birth of their baby boy. Grandparenthood is a unique moment in anyone’s life, as countless kind people have told me in recent months, so I am enormously proud and happy to be a grandfather for the first time and we are eagerly looking forward to seeing the baby in the near future."

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