The Albert Square actress, who was only revealed to be romantically involved with the musician in May, has apparently told friends of her long-term plans.
"She had her heart broken into a million pieces and vowed she'd never marry," a source told The Mirror.
"But she's fallen so in love with Tim that the path is very much clear for her to walk down the aisle.
"Everyone hopes she'll wed again. She's a great girl who deserves happiness, and Tim's lovely."
Arnold, the godson of Wallace's EastEnders co-star June Brown, has previously spoken about the couple's "love" for each other.
Jessie Wallace is currently involved in an EastEnders plot which has shown her character Kat Slater having a mystery affair with a Walford resident.