In a statement, the publisher of the Daily Mirror and the Sunday Mirror said the paid-for title would be published Monday to Friday, beginning on 29 February, across the UK.
The company insisted The New Day would not be a sister paper to the Mirror and would be politically neutral. The Mirror has consistently supported Labour since the 1945 general election.
There will be a trial cover price of 25p for two weeks before the paper retails at 50p. It will run to 40 pages each day and be available for free from over 40,000 retailers on its first day.
The Mirror’s weekend editor, Alison Phillips, will be the editor of The New Day. There are currently no plans to launch a web site for the new title.
Simon Fox, the chief executive of Trinity Mirror, said: "Over a million people have stopped buying a newspaper in the past two years but we believe a large number of them can be tempted back with the right product.
"Revitalising print is a core part of our strategy in parallel with digital transformation and there doesn’t have to be a choice between the two – newspapers can live in the digital age if they have been designed to offer something different."