The high street fashion chain will be the exclusive retail partner for the range globally.
The long-term partnership will see the new range stocked in 1800 stores in more than 40 countries.
The first collection will launch in February 2012 to coincide with Valentine’s Day.
The underwear range was inspired by Beckham’s previous collaboration with Armani in 2008 that saw the footballer model the designer underwear.
H&M says Beckham is “one of the most marketable individuals in the world”.
The range was announced by Beckham and his business partner Simon Fuller earlier this year.
Fuller says the partnership with H&M will “enhance the power of David’s image around the world”.