Replica of Meghan's ring on sale for £14.99
and live on Freeview channel 276
The limited edition Meghan Sparkle by the online retailer features an emerald-cut cubic zirconia set between two brilliant-cut stones on a yellow gold-plated band.
The American former actress's actual diamond engagement ring, designed by Prince Harry, was made using two diamonds from Diana, Princess of Wales's personal collection and a central diamond sourced from Botswana.
It is estimated to be worth more than £120,000.
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Clair Albone, jewellery buyer at Argos, said the sale of engagement rings at the company had jumped 22% compared to last year, as the nation gears up for Harry and Ms Markle's nuptials on May 19.
She described the Meghan Sparkle ring as "a classic choice at a price that doesn't require a royal budget".
The ring comes in a gift box depicting the London skyline and inscribed with the royal wedding date.
A huge selection of souvenirs have been produced ahead of the big day, including a Harry and Meghan neckerchief for dogs by luxury dog accessories brand Teddy Maximus for £25.
Other novelty items range from Harry and Meghan face masks from various party shops and costing around £3.50 each, to a Let's Dress Harry And Meghan! Royal Wedding Souvenir Cut Out Book for £5.25.