The live 35-minute show will be presented by Fearne Cotton, alongside a changing line-up of guest presenters starting with Phil Jupitus, then followed by Jeremy Clarkson, Mark Lamarr, the Osbournes and Reggie Yates.
The relegation to BBC Two comes after a reported 25% slump in viewers. A revamp, led by former presenter Andi Peters, has failed to reverse the decline.
However, the BBC was putting a different spin on the move, saying it was to attract a more diverse audience.
The new extended 'Top of the Pops' format will combine elements of 'Top of the Pops 2' by featuring the latest bands and exclusive performances alongside performances from the past to appeal to a wider audience.
The show will retain its familiar theme tune, logo and set design and will end with its traditional chart countdown to the number one single of the week.
A BBC spokesperson said the line-up for the new launch would be revealed next week.
Roly Keating, controller of BBC Two, said: "I'm looking forward to seeing 'Top of the Pops' in its new home on BBC Two. I think it marks an exciting new era for the show, which will see it reaffirming its position as the definitive show for pop music lovers of every generation."
The revamped music show will be working more closely with Radio 1 to add to its music portfolio, from 'Later with Jools Holland' to Glastonbury.
'Top of the Pops' was originally transmitted from a converted church in Manchester and was commissioned for just six shows. However, the show still remains one of the most popular weekly entertainment programmes on the BBC.
The very first show, broadcast on a Wednesday evening at 6.30pm and hosted by DJ Jimmy Saville, opened with a performance by the Rolling Stones, who had just made number 13 with 'I Wanna Be Your Man'.
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