The service will be available through Google Code, the search giant's repository for tools that developers can use to add Google services to their applications.
Google denies that it wants to compete with, or replace, such services.
The new site's FAQ states: "One of our goals is to encourage healthy, productive open source communities. Developers can always benefit from more choices in project hosting."
Users of the new service will get a project workspace, version control, bug-tracking and a Google Groups mailing list. Unlike many of Google's beta products, anyone can apply for an account immediately.
Greg Stein, engineering manager at Google, announced the launch yesterday at the O'Reilly Open Source Convention in Oregon.
Google's hosting service is based on Subversion software co-developed by Stein during his time at start-up CollabNet.
CollabNet chief technology officer Brian Behlendorf said: "It's not too often that Google can deploy something they didn't entirely write."
Cotton seedling freezes to death as Chang'e-4 shuts down for the Moon's 14-day lunar night
Fortnite easily out-earns PUBG, Assassin's Creed Odyssey and Red Dead Redemption 2 in 2018
Meteor showers as a service will be visible for about 100 kilometres in all directions
Saturn's rings only formed in the past 100 million years, suggests analysis of Cassini space probe data
New findings contradict conventional belief that Saturn's rings were formed along with the planet about 4.5 billion years ago