Jowell made the announcement at the Edinburgh International Television Festival, saying that there would be ample opportunity for everyone to put their case.
Jowell said that the review would look at the quality and value for money of BBC's online services, the way they fit with the broadcaster's public service remit and how its services have an impact on the commercial internet market.
"Reviews are vital to ensure that promises are kept and that accountability is visible. There will be ample opportunity for everyone to put their case," she said.
The BBC has already submitted a report to the Department for Media, Culture and Sport that Jowell heads, which will be considered as part of the review.
Graf worked at regional newspaper group Trinity for 15 years, becoming chief executive in 1993 and leading its merger with Mirror Group to create Trinity Mirror. He announced his resignation in September last year, saying at the time that he planned to stay on until this summer. However, he was replaced in January by Sly Bailey, who joined from her job as chief executive of IPC Media.
The review of the BBC's online services will feed into that of the BBC's charter, which expires at the end of 2003.
According to Graf: "The BBC holds a unique place in our nation's cultural life and its website has been a significant part of the internet revolution that has irrevocably altered communications in recent years. This is why I relish the opportunity to conduct this very important review. I can assure all concerned that it will be both open-minded and vigorous."
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