The channel, which initially is US-only, will replace VH1 classic in the Viacom stable.
MTV is often criticised for moving away from its roots and Viacom is reaching out to fans of early era MTV with the new service. The original MTV launched in 1981, but the new service will focus on content from the early 1990s.
It starts on August 1, MTV’s 35th anniversary, with MTV Hour One, a rebroadcast of the first ever hour of MTV programming.
Other programming will include Laguna Beach, Aeon Flux, Jackass, Punk’d, Wonder Showzen, classic MTV Unplugged and The Real World, often heralded as the first ever reality TV show.
There will also be classic movies, concerts and music videos.
“From Beavis & Butt-head to Laguna Beach, MTV’s programming vault is a music and pop culture goldmine with universal resonance,” said MTV president Sean Atkins.
“MTV Classic gives audiences a modern and artful home for classic MTV programming and — alongside MTV, MTV2, MTV Live and mtvU — rounds out a diverse portfolio with music and youth culture at its core.”