The group behind the weekly Time Out magazine in London first published its student guide in 1977, but withdrew it in 2005.
Some 95,000 copies are being distributed for free at campuses around London and an additional 20,000 are being made available in London newsagents for £1.99.
The 100-page magazine includes an area-by-area guide to London's hottest neighbourhoods, top tips on London's best music, art, theatre, comedy, film and clubbing events and two pages of student venue and restaurant discounts.
It has been funded by a mix of circulation and advertising revenue from a range of brands including Top Man, Lloyds TSB, Budweiser, BFI and Pizza Express.
Mark Frith, new editor of Time Out magazine in London, has been involved in the relaunch, which was compiled and edited by Time Out's international editor, Marcus Webb.
Frith said he remembered the guide from when he moved from Sheffield to the University of East London in 1988. He said: "London can be a big, scary place when you're a student and the guide can help."
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