Readers of the Sunday newspaper will get a free copy of McFly's new album 'Radio:ACTIVE' when they buy a copy of the Mail on Sunday on July 20.
The deal is significant because the band are the first current major pop group to give their music away as a newspaper covermount.
McFly decided on the deal after leaving record giant Universal and setting up their own self-funded independent label, Super Records.
Tom Fletcher, the band's singer and guitarist, said: "We want to get our music out to the widest audience possible and working with a massive paper like the Mail on Sunday will defiantly help us achieve that."
Stephen Miron, managing director of the Mail on Sunday, said: "As part of the Mail on Sunday's ongoing innovation in bringing new music to the masses and exactly a year since we created a world first with Prince's new album, we are delighted to be involved with one of the UK's biggest selling pop acts, McFly."
Last year, the giveaway of 'Planet Earth' by Prince, helped the newspaper put on around 600,000 sales and kicked off the current trend. The album, which consisted of 10 songs, was never released in shops in the UK.
The deal with Prince sparked a furious reaction from the record industry, although HMV agreed to sell the paper so its customers could buy the CD.
The Mail on Sunday also gave away Paul McCartney's new album, 'Memory Almost Full', last month, although it had already been released through Starbucks coffee shops.
A deluxe album version of 'Radio:ACTIVE' will be released as a CD by Super Records through retailers in September, featuring four new songs, a bonus DVD and a 32-page booklet.
The four-piece, aged between 20-22, became the youngest band to have their debut album, 'Room on the Third Floor', debut in the charts at number one.
McFly have had chart success with 13 top 10 singles, seven of which reached number one, and four top 10 albums.
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