The agreement follows media industry objections to plans to feature advertising on international website BBC.com. A decision on this has been delayed until the spring.
You Tube will host two channels - one for the BBC and one for BBC World - with clips from popular shows and specially commissioned content.
For example Doctor Who and Life on Mars will be available, with video diaries from the show's stars, including David Tennant and John Simm.
There will also be ad-free news reports. Some ad-funded clips will only be available to users outside the UK.
BBC Worldwide will offer previously-aired clips from shows such as Top Gear, Spooks, The Catherine Tate Show, The Mighty Boosh and a range of factual programmes including David Attenborough's nature documentaries.
Users will be able to comment on clips, rate them, recommend them to friends and post their own video responses to communicate with the BBC and other viewers.
The move is designed to bring new audiences to the BBC's proposed iPlayer service, and secure commercial revenue via BBC, the commercial subsidiary of the BBC, to supplement the licence fee.
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