Subscribers will have access to up to 40 networks, as well as YouTube creator content like original content from subscription service YouTube Red.
In doing so, YouTube is entering a market that includes competitors such as AT&T's DirecTV Now, Sony Playstation Vue, and Sling TV.
Like other similar services, you'll be able to stream YouTube TV to pretty much any device with a screen and internet connection: connected TVs and set-top boxes, phones, tablets, and computers.
Reports about this service go as far back as May 2016 where it was said the company was working on a way to bundle cable TV channels that were streamed over the internet.
YouTube TV also comes with a strong array of broadcast network channels, such as ABC, CBS, Fox, NBC and the CW, though Viacom appears to be absent from the lineup.
And some significant TV programmers are not part of YouTube TV. Recode reports that Google's artificial intelligence software will power the service's recommendation system. It's offering an unlimited amount of free DVR storage space.More news: Everton fans react on Twitter to Ross Barkley display against Tottenham Hotspur
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It will cost $35 per month and include a virtual DVR service.
Justin Connolly, an executive vice president at Disney and ESPN, said in a statement that the service would allow networks to reach "young, mobile-first audiences".
Turner Broadcasting channels, including CNN, HLN, TBS, TNT, Cartoon Network, MTV, Nickelodeon and VH1, are excluded from the service.
YouTube Now's pricing will make it hard/impossible for YouTube to turn a profit, given the carriage fees it has to shell out for the four big networks, but YouTube doesn't seem concerned about that: Right now it wants to work on turning some of its billion-plus users into paying subscribers.
At an event today in Los Angeles, the Google subsidiary unveiled YouTube TV, billing it as a way to reimagine television for the YouTube generation.
YouTube and Google spent years in a cold war with the TV guys, and the site's existence spurred them to create Hulu as a sort of anti-YouTube; now the two services are about to compete directly again, this time selling the kind of of pay TV services that were supposed to die off years ago.