The site is seeking sponsors and commercial partners for four sections, covering make-up, skincare, well-being and hair.
The channel will carry exclusive web-only celebrity-led content, with daily updates from Monday to Friday. It will be edited by Joanie Walsh, who has covered health and beauty for national newspapers and Emap's women's weekly Closer.
Hello!'s print edition regularly covers health and beauty, but until now the site has focused largely on celebrities and travel.
"The idea was always to cover health and beauty, but until now we haven't had the opportunity to do anything online," said Tree Elven, editor of hellomagazine.com. "We want to offer something inspirational, so readers can learn how to get the look of the stars, while also getting expert tips."
Health and beauty content will also run in the site's weekly e-mail and Elven said that, in time, readers would be able to sign up to a targeted e-mail drawn entirely from the channel, providing further opportunities for sponsorship.
According to ABC E figures, the website attracted 966,692 unique users in January. Elven said 90% are female and typically between 18 and 35, which is slightly younger than the average reader of the print edition.