Microsoft's low-end Series S console will retail for $299 (about £230) and looks like a hi-fi speaker.
An official image revealed by the company on Tuesday shows a distinctive black circular vent on a slim white body.
Series S, which appears to come without a disc drive, is cheaper, smaller and less powerful than the Series X console, the company's official fourth-generation Xbox.
The image had leaked on several US websites late on Monday before Microsoft decided to 'make it official' today.
Series S is the 'smallest Xbox ever', according to Microsoft, which promised it would reveal more details soon.
Both consoles will be released on November 10, according to rumours.
Although Microsoft hasn't revealed a specific release date for either, it confirmed last month that Series X will launch some time in November.
Microsoft's official image of the new Series S, which will enter the market along with Microsoft's main event and next-gen Xbox console, the Series X
'Let’s make it official!' the official
on Tuesday morning.
👀 Let’s make it official!— Xbox (@Xbox) September 8, 2020
Xbox Series S | Next-gen performance in the ˢᵐᵃˡˡᵉˢᵗ Xbox ever. $299 (ERP).
Looking forward to sharing more! Soon. Promise. pic.twitter.com/8wIEpLPVEq
'Xbox Series S. Next-gen performance in the smallest Xbox ever. Looking forward to sharing more! Soon. Promise.'
Unlike the Series X, Series S will not feature a disk drive, with users instead downloading content for the system digitally.
The image of the Series S was leaked on technology website Thurrott on Monday, which predicts Series S to be cheaper than Sony's PlayStation 5, set to be released late 2020.
'The console is white and based on the image, does not appear to have a disc drive but we don’t fully know that until we get a better side shot of the console,' said Brad Sams at Thurrott.
'Further, this device appears to look closer to the Xbox One family of devices than the tower of the Series X.'
The Xbox Series X console, to be released this November. The design of the new console is different from previous Xbox generations, with a more upright 'tower block' appearance
Windows Central also said on Monday that Series X will cost $499 (around £380) and will be available on November 10.
Microsoft will offer customers the option to pay $35 or $25 a month for its All Access subscription service for the Series X and Series S, respectively, it said.
Release date: November 10 (rumoured)