The Orbyt service will cost €14.99 ($20.50) per month or 60 euro cents per day, and provide subscribers with full access to its print edition as well as other services such as archives, video reports and news commentary.
El Mundo is the first major Spanish daily with a paid-for news application. It will, however, continue to offer free access to its website.
The paper is controlled by Italy's top publisher RCS MediaGroup. It has been struggling to make money due to a decline in print advertising revenue and newsstand sales.
El Mundo director Pedro Ramirez said they are keen to transform the paid news application into an "electronic kiosk" that provides content from other newspapers.
He added that the newspaper is already developing an application suitable for Apple's soon-to-be-released iPad tablet computer.