The site installs and launches a software package which performs a procedure known as 'jail-breaking'.
The process lifts the software locks which prevent users from installing third-party applications on the Apple devices.
The procedure reportedly takes advantage of a vulnerability in the way that the iPhone handles Tiff image files, which exposes users to remote code execution.
After performing the jail-break procedure and installation, the software patches the vulnerability, protecting users from future exploits.
The process will not remove the Sim-locks which link the iPhone to AT&T's network. Users wishing to unlock their iPhones will need to download and install a separate piece of software.
The creators of the site claim that the process will not lead to the 'bricking' issues which befell users of hacked iPhones in the past, and that the process can easily be reversed through the device's software restore option.
The installation of third-party software on the iPhone has been a grey area for users and developers.
While Apple has said that it does not condone or support the process, the company has also said that it will not make any special effort to remove the software from hacked iPhones.
Apple hopes to resolve the issue by February next year with a software development kit which will allow developers to produce sanctioned third-party applications on the iPhone.
Apple currently allows developers to create third-party iPhone applications that run only via the Safari web browser.
WARNING: The 'jail-breaking' website is available at http://jailbreakme.com. Users should not access the URL from their iPhone or iPod Touch as it will instantly perform the hack.
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