IPC has teamed up with technology company Electra Entertainment, which will launch the TV guide and a number of other services in conjunction with several major set-top box manufacturers later this year.
The What's On TV channel will feature full listings, as well as content drawn from the magazine, including soap gossip, film and DVD reviews, editorial features, games and competitions.
IPC's other TV magazines, TV Times and TV Easy, will also supply some content.
Last month saw the arrival of a What's on TV mobile service, and IPC is understood to have a website in development.
Freeview currently features only basic electronic programme guides, provided by set-top box manufacturers, due to its limited bandwidth.
Electra's enhanced offering, which also includes games featuring Cartoon Network characters such as The Powerpuff Girls, is the result of a partnership with games group YooMedia.
IPC also announced today that Neil Robinson, publishing director of its TV magazines, would take on the new role of digital development director.
IPC set to launch UK's first on-air TV guide on Freeview
IPC is to launch the UK's first subscription on-air TV guide. The What's On TV channel, named after the listings magazine, will be available on Freeview's electronic programme guide.