LG bought webOS from Hewlett-Packard last year, which had itself bought Palm in 2010.
The multitasking capability of webOS will allow users swap directly between different programing sources without having to go back to a home page, LG said.
The on-screen interface will feature "cards" that will let users switch between live TV, YouTube, Facebook, Twitter, AccuWeather, Skype, and the Internet.
More than 70 percent of its new smart TVs this year will be based on webOS, the company said at the Consumer Electronics Show in Las Vegas.
LG is expected to debut the system in Korea, before introducing it in the United State and Europe, PC Magazine reported.