Developed in conjunction with the creative consultancy Cake, B-Live will launch in the UK in May, then globally on a country-by-country basis.
The station will play 24-hour music and will not contain any advertising.
At launch, the station, which is aimed at the over-21 market, will have the capacity to reach more than 80 million mobile handsets, rising to more than 200 million after eight weeks.
Bacardi aims to have 300,000 registered global listeners three months after launch.
John Burke, Bacardi's global brand director, said: "The service strengthens our associations with music by creating more opportunities to connect with our target adult consumers."
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