The beta will offer a preview of new dashboard features including Internet Explorer for Xbox, personalized dashboard recommendations and improved category search functionality.
The new features were first announced at E3 2012 during Microsoft's press conference, along with the upcoming SmartGlass functionality for smartphones and tablets.
Users interested in participating in the beta can sign up through Microsoft Connect, though space is limited. Users who qualify will be notified of the beta's duration closer to when it begins.
For everyone else, Microsoft will launch the dashboard update with the new features later this year.
Watch the Xbox 360 SmartGlass demonstration below: