It has an 11.6-inch screen, comes in black and white with a choice of four accent colors and is available at Best Buy, Amazon and HP's shopping website.
The new Chromebook has virus protection built-in and includes 100GB of Google Drive cloud storage, which is free for two years. Consumers will also get 60 days of Google Play Music All Access with purchase.
It will come either in a Wi-Fi only model, or 4G LTE equipped model. However, HP has not announced the pricing or availability for the 4G LTE version.
Chromebooks are unique because unlike traditional computers they don't run on Windows or Apple's Mac OS. Rather, they are run on a Chrome-based browser. Since most of the computer's storage is in the cloud, the device only has 16GB of internal storage.
The computer, which weighs just over 2 pounds, has up to six hours of battery life, features a front facing camera and has two USB 2.0 ports.
—By CNBC's Cadie Thompson. Follow her on Twitter @CadieThompson.