Under the deal, LoveFilm members will be able to watch all of Icon's 2010 film releases instantly through the LoveFilm Player, which is available online, via PCs, connected-TVs and the PS3 console.
Available movies include the multi Academy Award-nominated Precious, along with The Road starring Viggo Mortensen, Edge of Darkness and A Single Man, directed by Tom Ford. There will also be "dozens" of other Icon library titles added to the LoveFilm Player as the year progresses.
"The fact that film producers and distributors like Icon are beginning to choose LoveFilm as the home for their top titles is a huge endorsement of the popularity of LoveFilm's streaming service," Simon Calver, chief executive of the subscription service.
"LoveFilm members are passionate about film and we are passionate about growing the platforms on which we can get great content directly to their TVs as part of their subscription."
Icon managing director Ian Dawson added: "We are delighted to be working with LoveFilm to bring some of our biggest award winning hits of the past year and our best library titles to the fast-growing streaming service.
"LoveFilm continue to innovate and we believe that their passionate film loving members will appreciate the boost to the wide range of quality movies available."
The Icon deal follows a similar agreement between LoveFilm and Momentum Pictures, enabling subscribers to access movies such as The Girl Who Kicked the Hornet's Nest and Dorian Gray.