The UKTV-owned channel will air the show early next year after agreeing an exclusive multi-season deal with distributor CBS Studios International.
The show stars Kristin Kreuk as homicide detective Catherine Chandler, who years earlier witnessed the murder of her mother and was only saved thanks to a mysterious figure.
Jay Ryan plays doctor Vincent Keller, who was reportedly killed in Afghanistan in 2002. Catherine learns that Vincent is still alive and that he saved her years before. He's been living outside of traditional society to hide the fact that he transforms into a terrifying beast when angry.
Catherine Mackin, UKTV's Director of Programme Acquisitions, commented: "CBS's Beauty and the Beast feels fresh and contemporary while also encompassing an out of the ordinary feel to it which is perfect for Watch's viewers."
Stephen Tague, Senior Vice President Europe at CBS Studios International, added: "We're excited that UKTV has acquired CBS's new take on this classic love story.
"Beauty and the Beast will appeal to Watch's younger, dynamic audience, delivering them CBS's customary high quality storytelling and production values."
Beauty and the Beast premiered on Thursday (October 11) on The CW in the US.