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The pair, who split up in 2006 after a four year on-and-off romance, shared a warm embrace during the chance encounter in California, reported Us magazine.
The 28-year-old actress spotted the `Pirates of the Caribbean` star, 34, on his motorcycle and headed over for a friendly, but brief, catch up.
"Orlando and I met when we were kids. Blue Crush hadn`t come out. Lord of the Rings hadn`t come out. He was the first big heartbreak.
"First love - you feel like it`s the be-all and end-all. To put as little pressure on the relationship you`re in is very important. I regret that it was too intense for both of us," she had said.
Both have now moved on. Bosworth began dating British model James Rousseau in 2006 is now in a relationship with `True Blood` star Alexander Skarsgard.
Bloom married Victoria`s Secret model Miranda Kerr, 28, in July last year. They have six-month-old son, Flynn.