The first issue launches next week (17 April) and will feature articles informing readers about sport and fitness, film, comedy, club nights, arts and culture events in London.
Launch advertisers include Uniqlo, Chang Beer, theatre company Babel London, Camden Crawl and the London Coffee Festival.
Scout London will be published every Tuesday with 125,000 copies being distributed at tube stations, select retailers, hotels, health clubs and offices across the city.
The magazine’s founder Jim Zambrano, says: “Advertisers are leaping at the chance to reach commuters, tourists and local Londoners in a publication that brings people the very best of what the capital has to offer not only on the Tuesday it’s published, but throughout the week.”
IPad and Kindle versions of the magazine will also be available from next week.
The launch follows a preview run of 5,000 magazines last month to generate advertiser interest in the new title.
Elsewhere, editors and journalists from News International, Condé Nast and Hearst have collaborated to launch aMuse, the first free monthly fashion and lifestyle magazine for London from 30 April. An app will launch for the title in September.
Stephen Murphy, publisher of aMuse says free magazines are a major part of the evolving media landscape.
He adds: “When we launched Square Mile in 2005, the only free media was Metro. Nearly seven years on, advertisers appreciate the benefit of free. We invest in content and quality – that brings the readers – and then the advertisers follow.”
Other freemiums available in the capital include Sport, Shortist and Stylist Magazine, which all have circulation figures of over 300,000 copies