The BHF decided to launch the magazine because South Asians are 50% more likely to suffer from heart disease than other members of the UK.
The magazine will be distributed at South Asian Mela events and festivals, throughout the UK in 2008.
Heart and Soul will feature famous faces from the business and culinary worlds, community initiatives, sports and Bollywood stars. It will be promoting the message: "Get heart healthy".
The magazine will be targeted at men and women between the ages of seven and 70.
PSP Rare Publishing will be responsible for ensuring that the magazine delivers the breadth of content that will satisfy readers, with the aim of beginning to reduce the heart disease statistics.
The BHF aims to reach a diverse range of religions, social groups and ethnic origins. It said that it aims to provide a forum for information and debate on how to improve diet and lifestyle, without losing sight of traditional values.
Olena Baker, editor of the BHF's bi-monthly publication Heart Health, said: "We're very excited about this magazine.
"It will be the centrepiece of the BHF's communication with South Asian communities and will help address the causes of heart disease in a culturally specific way."