Prospect Park secured the rights to continue production on the soaps after their run on ABC ends. All My Children will air its final episode on September 23, with One Life to Live finishing in January.
The agreement will see Prospect Park produce the two shows online as well as other platforms including internet enabled television sets.
They will both be produced in the same format, quality and running time as before.
However, it is currently not known when the shows will be re-launched on the website.
All My Children was created by Agnes Nixon and premiered on ABC on January 5, 1970. Nixon previously revealed that she was "saddened" to hear about its axe.
Watch the opening to All My children below: