The sale for an undisclosed sum comes three years after News International launched News Magazines in a bid to create a serious force in the consumer magazine sector.
However, News Magazines incurred a £10m loss in the 12 months to June 2007.
Love It!, which has a circulation of 372,247 copies, is all that is left of the News Magazines portfolio after moving Sky Magazine and the Sunday Times Travel Magazine to News International and closing its glossy interiors monthly Inside Out in 2007.
Hubert Burda Media UK already publishes its own real life weekly Full House! and a range of other consumer magazines including Your Home, Health & Fitness, Period House and The Essential Kitchen Bathroom Bedroom Magazine.
It is part of the German media business Hubert Burda Media Group, which publishes 260 magazines worldwide.
Luke Patten, chief executive of Hubert Burda Media UK, said: "We are delighted with the acquisition of Love It!.
"News Magazines created a leading title within the sector with a distinctive appeal to readers. It fits very well with our other titles and is well placed to grow further."
Love It! will continue to be published from News Magazines' offices in Chelsea until January, when the team will transfer to Hubert Burda's Holborn offices.