The pro-epil complex, the result of three years of research, claims to gradually make underarm hair finer and noticeably slows down the rate of growth.
"We are really excited to be opening up an entirely new segment in the deodorant category," The Telegraph quoted Murray Bisschop, senior deodorant category manager at Unilever, as telling trade magazine The Grocer.
He added: "This gives women all the efficacy of Dove and Sure deodorants with an advanced added beauty benefit that no other deodorant brand currently offers.
"The pro-epil complex contains natural extracts and it is critically important for Unilever not to launch anything that is potentially risky."
Although the ranges have not been designed as an alternative to waxing treatments, the company has claimed that they will reduce skin irritation caused by hair regrowth.
The Sure and Dove Hair Minimising Deodorant will be seen on supermarket shelves from January next year and according to Unilever's prediction, it will generate 10 million pounds in 2009.
But, the launch of the new range may reduce the sales of the standard Dove and Sure deodorants by about a third, with the target audience of young females trying out the new variants.
A 6.4 million pounds marketing campaign, including television adverts will support the launch of the new deodorant range.