The M Savers brand will launch on 100 products in the new year and will grow to around 500 products throughout the year.
It will replace the Morrisons Value range. New look packaging and new products will be introduced.
A press and in-store campaign will support the launch of the range.
The M Savers range follows the introduction of the M Kitchen premium ready meals launched in October, backed by celebrity chefs Aldo Zilli and Nigel Haworth.
Overhauling Morrisons own brand offering was one of CEO Dalton Philips’ main areas of focus when he joined the chain in 2010.
Philips has previously said that Morrisons underperforms in sales of own label products, which presents an opportunity to grow sales by improving and extending its own brands.