The pretty model was the talk of the town after she had the racing star smitten at the Cinema Against AIDS gala for amfAR at the Hotel du Cap-Eden-Roc in Antibes, France.
The duo didn't go out of their way to hide their affection for one another and happily cosied up at the event.
A source close to the pair told the Mail On Sunday that the romance is definitely progressing in a speedy fashion.
"They've been on a couple of dates. It's on," the insider explained to the British publication.
The 20-year-old recently parted ways with long-time beau, Australian singer, Cody Simpson. A spokesperson for the couple admitted their hectic schedules was a factor in the split, but refused to rule out a reconciliation further down the line.
"Cody and Gigi want each other to be in a place right now that allows him to only focus on his music, fans, and new message, while she can focus and continue building her career.
"They love each other dearly and have split up in hopes that growing on their own paths will bring them together in the future," the statement explained at the time.
It looks Gigi is motoring on with new suitors and Lewis couldn’t be happier to be spending time with the supermodel.
The racing star also split from his on/off pop-star girlfriend Nicole Scherzinger earlier this year, but insisted he feels "stronger than ever" that the issue wouldn't impact his racing.
And with Gigi on hand to support him in Monaco for the Grand Prix, we imagine he’ll be in full gear ready to go!