The relaunched will feature entertaining editorial content on all issues that interest men, in an interactive format.
Users will be able to browse 10 different sections on the site, including Entertainment, Life and Style, The Girls and The Mansion.
Playboy's current online offering relies on subscriptions but the new website will be ad funded.
Richard Gale, Playboy UK marketing and sales director, said: "Playboy's iconic brand makes our portal a well-targeted choice for advertisers whose products appeal to men who are interested in living the good life.
"We are keen to work alongside w00t!media, as they understand the importance of bespoke advertising on a premium site."
Playboy.co.uk will relaunch in December 2008.
Austen Kay, director of Wootmedia, said: "We are strongly focused on offering creative solutions for advertisers, and we know that Playboy.co.uk will prove to be a tremendous partner in creating innovative brand partnerships. "
Playboy has launched a to support the new site.
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