The deal will allow 's estimated 36m registered users to export and import contact lists between the site and Microsoft's free-to-download Windows Live services, allowing for better integration between the two.
Microsoft will also introduce a Windows Live instant messaging service, allowing Bebo users to contact each other by adding an IM Me icon directly to their homepage.
The agreement, the first one Microsoft has made with a social networking website for instant messaging, will aim to close the gap on Google, by harnessing its estimated 300m global users.
Bebo, which last week claimed to have overtaken MySpace and Facebook to become the most popular social networking website in the UK, said that around 90% of its audience used Windows Live instant messaging services regularly, making it an attractive deal for both.
Joanna Shields, president of international at Bebo, said: "Our core strength is not building applications. We're more of an open platform and much more likely to partner than build [instant messaging] applications ourselves.
"Our agreement with Microsoft Windows Live delivers a powerful new way to instantly update and keep in touch with friends and serves to make the Bebo user experience even more compelling and interactive."