The move will see the Japanese manufacturer take its first step back into the international smartphone market after a five-year absence.
Panasonic's Eluga handset is water resistant and dust proof, measuring in at 7.8mm thick with a 4.3-inch qHD screen. It will run the Android operating system, though it has yet to be announced which version.
NFC technology will also be supported. A tag on the rear of the device will enable it to interact with services such as Google Wallet.
Panasonic is planning to launch the smartphone in the US, China and the rest of Asia following its European debut. The firm aims to sell 1.5 million units in Europe this year, and 15 million in other territories by 2015.
Full details of the Eluga handset will be revealed at Panasonic's press conference tomorrow (February 21).
> Panasonic Lumix smartphones 'for UK launch in 2012'
> More tech news