The Beatles legend and Shevell decided to wed in England but will also throw a celebration in Manhattan.
'It will be a small, intimate wedding. It is going to be very elegant and classic,' an insider told Us Weekly magazine.
Paul, 69, popped the question to 51-year-old Shevell in April and bought her a whopping $650,000 engagement ring.
It will be the third trip down the aisle for McCartney following his 30-year marriage with first wife Linda, who died in 1998, and his second marriage to Heather Mills that ended in a messy divorce in 2008 after six years.