The scheme, being handled by brand partnership marketing agency Cocktail Marketing, will target the magazine's key audience and is designed to reward them for subscribing.
In return, brands that sign up to the deal will enjoy exposure both online and in print.
Discounts will be offered on a range of relevant products from high street stores such as Waterstones and Jessops, as well as upmarket locations such as luxury health spa Champneys and boutique hotel directory Mr and Mrs Smith.
Jo Mitchell, head of marketing at The Sunday Times Travel Magazine, said the loyalty scheme would reward "our most loyal customers, with exclusive and relevant benefits".