The 32-year-old shared her happy news with a picture of the baby’s feet, revealing she had welcomed a baby boy named Winston a couple of days ago.
She told fans: “Winston Roy Followill. Blessed our lives January 29, 2019.”
Lily and the Kings Of Leon front man are already parents to a daughter called Dixie.
The star revealed she was pregnant in August by sharing a picture of her tiny bump in a bikini and captioning it: "SURPRISE."
Lily has been married to Caleb for six years – after the couple met at Bonnaroo Music Festival in 2007.
After getting engaged in 2010, they married a year later at the San Ysidro Ranch in Montecito, California.
The couple now live in Nashville and welcomed their first child in 2012.
Lily has previously said that being a parent has made her worry less about her figure and thinks people should be less judgemental.
She added: "It's been a while now since I had that moment of having to get back in shape [after giving birth], but there should be no judgement, everybody's journey is different. Of course, as I get older my body is changing, I'm a woman, but I love it. I love working out and I love being healthy but I don't judge myself so much; I don't care if I have a six-pack any more.
"I am inspired by all these amazing women who have fuller bodies and don't care about cellulite. I have cellulite, too, and I have stretch marks. When I was younger I would be like, 'Oh, my abs need to be firmer'; now I look back and I'm like, 'You were crazy! Your abs were gorgeous!'"
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