And before you get all excited (like we did), she's not converting because of a new man in her life (or maybe she is, scroll to the bottom of he page)... rather an 'old man' who will always be part of her life.
The actress - whose late father Bruce Paltrow was Jewish - is said to have decided to convert following her "conscious uncoupling" from husband Chris Martin, the New York Post newspaper's Page Six reports. Indeed a pinch of salt may be required alongside this article.
The 41-year-old plans to "quietly" (eeeep, SCUPPERED) convert after years of following Kabbalah, which originated in Judaism, and being pals with co-director of the Kabbalah Centre, Michael Berg. See, you probably thought she was into it because she was friends with Madonna too. Not so.
Gwyneth - whose mother Blythe Danner is a Christian - previously confessed that she was raised both Jewish and Christian, insisting it "was such a nice way to grow up".
Speaking about how her family came from a long line of influential East European rabbis in the past, she was quoted as saying: "Like, 17 generations of rabbis - you see, I really am a Jewish princess!" Explains a lot.
Meanwhile, she's said to have revealed that she wants to raise her children in a Jewish environment, despite their father being Christian, and dubbed herself 'the original Jewish mother'.
She said previously: "Creating a meal for my family and friends, sitting together, eating, laughing and talking, that's when I'm happy. Oh my God, if you saw the amount of food that I do. I am the original Jewish mother."
Just be the good part, not the "Why aren't you marrying a lawyer or a doctor?!" part.
It may also be worth noting that Gwynnie's reported new squeeze - that being Glee's Brad Falchuk is the son of Nancy Falchuk, who just so happens to be the current president of the national president of the American Jewish women's organisation Hadassah (as of 2007).
Just saying.