It's called IceBau and it was released Friday at a gelato festival in Ancona, Italy's ANSA news agency reported.
IceBau creators said the product will hit grocery store freezers across Italy this summer.
Meanwhile, Italians chose not to give up ice cream during the country's economic crisis, ANSA reported.
The Italian Institute of Ice Cream, or IGI, reported Friday sales for pre-packaged ice cream increased 2.2 percent in 2011, pulling in about $2.4 billion. Similarly, the IGI found gelato sales were up all year long, not just in the hotter months, with retail sales up 3.9 percent.