The US and British television news giants will share video, editorial content, and other resources in New York, London, Washington and around the world, according to a joint statement.
"There's never been a more important time for smart, courageous coverage of what's happening in the world," said James Harding, the BBC's director of news and current affairs.
"This new partnership between the BBC and CBS News is designed to bring our audiences -- wherever you live, whatever your point of view -- news that is reliable, original and illuminating. Our ambition is to deliver the best in international reporting on television."
The deal brings together two major television news organizations and comes weeks after US-based NBC finalized a deal to take a 25 percent stake in France-based Euronews to boost its global scale.
CBS News president David Rhodes said his organization "is completely committed to original reporting around the world -- a commitment clearly shared by the BBC."
He added, "There's no better partner to strengthen and extend our global coverage than BBC News."
The two groups sharing of content between CBS News and BBC News will begin immediately and that additional newsgathering elements would be rolled out in the coming months.
BBC News claims to be the largest broadcast news operation in the world with more than 2,000 journalists and 48 newsgathering bureaus, according to its website.
CBS News is part of the large CBS television network with offices around the United States and a handful of overseas locations.
This new partnership replaces the BBC's current arrangement with Disney-owned ABC News, according to Harding who called that relationship "long and fruitful."
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