The agreement, negotiated between UKTV and BBC Worldwide, the owner of Good Food magazine, permits UKTV to rebrand its channel, associated website, as well as commercial and promotional activity to the new brand name. The new channel will launch on 22 June.
It will include TV shows, such as Optomen's Market Kitchen and Cactus TV's Rachel Allen: Bake, as well as celebrity chefs such as Jamie Oliver and Gary Rhodes.
User-generated content and video recipes will be featured on the channel's website, which will be operated by UKTV independently of BBC Worldwide. IDS will handle online ad sales.
Launching with the strapline "We have fun with food", Good Food aims to target upmarket 25 to 44 year-olds searching for food inspiration.
In March, UKTV unveiled the rebrand of lifestyle brands UKTV Style and UKTV Gardens as Home and Really respectively.
This followed the rebrand of UKTV People to Blighty on 27 February, UKTV Documentary to Eden on 26 January and UKTV History as Yesterday on 2 March. In October, UKTV rebranded UKTV Drama to Alibi, UKTV Gold to GOLD and launched a new channel, Watch.