Targeting an audience of two- to five-year-old children, the site (www.noddy.com) will run a different Noddy story each day, along with a themed colouring sheet, which users will be able to print off.
Developed by interactive brand consultancy Glide, the site will also feature a game aimed at supervised young children.
It will back the broadcast of Chorion's computer-generated animated series of the children's character, created by Enid Blyton, on Channel 5 in the UK.
A second phase will see the roll-out of localised multilingual sites for more than 20 territories worldwide, which will feature links to authorised partners and licencees.
Chorion has signed TV deals for its 100-episode Noddy series across Europe, Australia, Asia and Canada. As well as localised video distribution deals, it has also signed an option for the first Noddy cinema movie.
"Chorion has licencees in every corner of the globe, and the site will be strong in promoting that," said Sam Phillips, Glide's managing director.