The service differs from Amazon's existing video download service Amazon Unbox because it streams the video as soon as a customer has paid for it, in the same way as a cable video-on-demand service.
Apple's iTunes and the current Amazon video store require users to download a video to their hard drive before watching it.
Bill Carr, Amazon's vice president for digital media, told the New York Times that the online store had signed a deal with Sony to make the video-on-demand service available on Sony Bravia high-definition TVs.
The service will be accessible to a select group of Amazon.com customers from today before being made available to all customers later this summer.
Carr said that similar deals were under discussion with other TV and internet companies.
Meanwhile, Google-owned YouTube has agreed a deal with Lions Gate Entertainment to show clips from its films on a Lions Gate branded channel on the video-sharing site.
Google chief executive Eric Schmidt said that clips from classic films such as 'Dirty Dancing' would be shown with ads.
The idea was to make use of the Lions Gate library and earn revenue through the accompanying advertising, while encouraging YouTube users to buy the films with a click-through link, according to Lions Gate vice-chairman Michael Burns. Lions Gate will share ad revenues with YouTube.
Jordan Hoffner, director of content partnerships for Google, said the new Lionsgate-branded channel would launch in the near future. He said Google was talking to other Hollywood studios about similar deals to monetise their film catalogues.
The announcement comes in the week that Google and Viacom agreed to protect the privacy of millions of YouTube users in the ongoing $1bn lawsuit brought by Viacom against Google and YouTube for copyright infringement.
Earlier this month a federal judge ordered Google to hand over YouTube's massive viewer database to Viacom, which owns Paramount and MTV Networks.
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