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The actors' happy news was first shared by Russian filmmaker Victor Kossakovsky at the 2020 Zurich Film Festival.
The couple have reportedly named their son River, in honour of Joaquin's late brother.
Victor has been working with Phoenix on a new documentary called Gunda, which has no dialogue and focuses on a mother pig who lives on a farm in Norway and cares for her babies.
River Phoenix was an actor, musician and animal rights activist who tragically died when he was just 23 years old, from a drug overdose in 1994. The death happened just three days after Joaquin's 19th birthday.
Joaquin has mentioned the passing of his older brother in several interviews over the years and it's clear that his sudden passing at just 23 years old still haunts him. When he won the Academy Award for Best Actor for his role in Joker, he told the crowd about River.
"When he was 17, my brother wrote this lyric and he said 'run to the rescue with love and peace and the rest will follow'. Thank you," he said.
Earlier this year, Joaquin told Anderson Cooper that there is always a bit of River in his own performances or movies.
"I feel like in virtually every movie that I made, there was a connection to River in some way," Joaquin said. "And I think that we've all felt his presence and guidance in our lives in numerous ways."
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