The glossy handbag-sized magazine will showcase products and services available from the retailer.
The first issue, which will carry advertising from Best Buy suppliers, will be a trial edition on which future production will be based.
Editorial will include feature articles, commentary and technology tips, plus reviews of new products.
The retailer has yet to decide on the frequency of the magazine, however the initial print run of the title is expected to run into the tens of thousands.
The magazine will also be given away with The Daily Telegraph in London later in July and be made available through bestbuy.co.uk in an e-catalogue format.
Andrew Barclay, head of marketing communications for Best Buy UK, said: "Consumer technology is such a diverse and exciting area and we love helping our customers find out about what’s possible and what’s right for them.
"At the outset of this project, our vision was for the magazine to embody the personality, knowledge and sense of fun that our Blueshirts and Geek Squad Agents have.
"It seemed only natural for us to produce an inspirational, contemporary and informative customer magazine, which, while aimed at our core customers – 20-40 year olds – will appeal to everyone.
"It’s also a great opportunity to further raise awareness of our brand and what we offer in the UK."
The US electrical retailer has so far failed to set fire to the British market since it embarked on a £1bn UK joint venture with Carphone Warehouse in May 2008.
Three years on, with a loss of £62.2m this year, Best Buy's management admitted that it is re-evaluating its strategy.
Five of the senior team have departed, including chief executive Scott Wheway and marketing director Kevin Styles, signalling further setbacks to its plan to have 80 stores in the UK by 2013.