carries the strapline "See your world" and features iconic photos from the 1850s through to the present day, with approximately 3,000 new photos from Getty Images added daily.
The photos are presented with descriptions and categorisations to allow users to not only view, but also rate, share and link to images in the collection.
The site will also offer photo galleries, including news, celebrity, sports, travel and animals, with the most relevant and timely photos featured daily.
In addition celebrity curators will create galleries that feature their favourite photos of a particular subject or theme.
The site launches with actress and TV host Ellen DeGeneres as the first celebrity curator, with her gallery featuring some of her favourite dog photos and commentary.
Users can search for photos by topic, time period, interest and by photographer, and purchase framed prints.
Jonathan Klein, co-founder and CEO of Getty Images, said: "Getty Images is always looking for ways to advance imagery and make it even more accessible.
"By combining the two best known brands in photography -- the classic and seldom-seen photos from Life with Getty Images' award-winning photography -- we have created an unsurpassed online photo experience for consumers."
Bill Shapiro, Life.com editor, said: "The Life.com tagline 'See your world' demonstrates the access consumers have to the photos that have shaped their lives.
"From photos of newsmakers and heroes who have made a profound impact on our lives, to classic Hollywood and celebrity images that have shaped our culture, this expansive photo collection gives the public seven million new ways to see their world."