Hilaria Baldwin checked into New York's Mount Sinai hospital on Friday (23.08.13) where she gave birth to the couple's first child, who they named Carmen.
Hilaria tweeted: "We are overjoyed to announce the birth of our daughter Carmen Gabriela. She is absolutely perfect (sic)."
55-year-old Alec's daughter Ireland, 17, from his marriage to Kim Basinger, also took to Twitter to share her joy.
She wrote: "Welcome to the world, Carmen! I'm a f***ing sister!" The best big sister!! Love you so much (sic)."
A source told the New York Daily News: "Alec is overjoyed."
Hilaria previously revealed plans for a natural childbirth, although she admitted she could choose an epidural if the pain got too bad.
She said: "Right now, I want to do it naturally. That's not to say there's something wrong with the epidural, but that's the way I was raised - I'm a pretty natural person. But if it does get to the point where I am screaming for the epidural, I have no problems with that. We'll see where it goes."
Tagged in Alec Baldwin Ireland Baldwin Hilaria Baldwin