Called 'Mine', the five-issue, 10-week experiment is backed by luxury automaker Lexus and American Express Publishing.
Readers can head to the and select editorial content from five Time Warner titles, which include Time, Sports Illustrated, Food & Wine, Real Simple, Money, InStyle, Golf and Travel + Leisure.
The customised publications will be delivered via post for free to the first 31,000 participants, or sent digitally through email, to the first 200,000 who sign up. Copies will be delivered every two weeks, for 10 weeks.
Both of the 36-page copies will show four full page advertisements for Lexus' new 2010 RX sport utility vehicle.
Readers are also asked to answer a small number of preference based questions, such as, "Which do you crave more, sushi or pizza?" which will help the editors select which content would best suit the reader.
Lexus also plans to provide personalised advertising based on these questions and the readers geographic location.
The campaign was created by Lexus' agency of record, Los Angeles-based Team One.
David Nordstrom, Lexus' vice president of marketing, said: "Frankly, it's an all new media model.
"Time Inc. has taken an innovative lead in consumer-inspired content, without sacrificing best-in-class editorial integrity."
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