Under the deal agreed in the UK and Germany, LoveFilm members will get access to new and archive titles from the international distributor for a 12-month window.
This means that they can stream movies such as Source Code, Unknown, The Pianist, Apocalypse Now and Mulholland Drive to PCs, connected TVs and PlayStation 3 consoles using the LoveFilm Player.
They will also get exclusive early digital access to newer films after their run at cinemas, including the acclaimed Tinker, Tailor, Soldier, Spy and horror movie Don't Be Afraid of the Dark, produced by Guillermo del Toro.
LoveFilm has further agreed to partner with StudioCanal to provide digital distribution support right from the early stages of production on new films.
"We are open for business and distributors are increasingly choosing to make LoveFIlm the number one destination and home to showcase their digital content," said LoveFilm chief executive Simon Calver.
"We have been pioneers of DVD rental since we launched our rental-by-post service and are now leading the way in streaming content directly into the living room.
"This deal is in line with our strategy to have the best content available across as many different devices as possible and I am delighted to say that LoveFIlm will be the only place that film fans can exclusively stream new StudioCanal movies."
StudioCanal chairman and chief executive Olivier Courson said: "We are thrilled with our partnership with LoveFilm in the UK and Germany and look forward to providing the service with a range of world-class StudioCanal productions from the US, UK and Germany.
"This deal perfectly complements our digital strategy and further supports all areas of our expanding business in the UK and Germany. And it will serve to further our policy of multi-territory production and distribution for our productions such as Tinker, Tailor, Soldier, Spy or the next Coen brothers movie."
LoveFilm, which was acquired by Amazon in February 2011, already has streaming content deals in place with Disney, eOne, Icon, Lionsgate, MGM and Warner Bros.
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Watch the trailer for Tinker, Tailor, Soldier, Spy below: