The Rupert Murdoch-owned group is expected to make the app available this week, coinciding with the iPad going on sale in the UK on Friday.
Executives from News International have over the past week been showing the app to media agencies, according to sources.
The app will run across The Times and The Sunday Times and feature editorial content from the day's newspaper.
Subscribers to the papers will not have to pay to access the app.
The company is limiting its advertising inventory to six advertisers across specific categories including motor, telecoms, and finance and luxury goods. The brands involved are yet to be confirmed.
News International today launched new websites for and , which will replace the single destination .
A number of other national newspapers have readied iPad apps, including The Financial Times and Express Newspapers.
However the Daily Mail and The Daily Mirror are not expected to join the fray in the near future.
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