The singer - who has her own fashion label called L.A.M.B - has signed a deal with Coty Inc. to create her own line of signature scents.
The range will be released under the L.A.M.B name - which stands forLove.Angel.Music.Baby. - and Gwen has promised fans it will be as unique as her own style.
She said: "Creating a fragrance is one of the most prestigious things a designer can do. For me, it's like another thing you can wear and another thing I can be part of creatively. I'm creating it for myself. It's like me shrunken into a box."
The first perfume is expected to be available in late 2007.
Gwen, 37, is just the latest in a long line of stars to release their own scent. Paris Hilton, Britney Spears, Sarah Jessica Parker and Jennifer Lopez have all put their names to their own fragrances.
Gwen recently admitted she is keen to expand her L.A.M.B fashion line.
The pop beauty said: "We will soon see L.A.M.B competing with Donna Karan's DKNY. The idea is to do the fashion for the rest of my life, although I hate saying it because if it folds everyone will know how much it hurts. There's not a lot of emotional drainage that comes with it. It's fun and rewarding but it doesn't really drain you."
Gwen released her second solo album The Sweet Escape this week.
