Designed to take on the new Vauxhall Meriva and upcoming Ford B-Max, the compact people carrier is essentially an extended version of the Fiat 500.
Measuring half a metre longer than the standard three-door Fiat 500 at 4.14m, the Fiat 500L adds another set of doors to the rear seats, which will be capable of seating five.
To accommodate this the roofline is higher towards the rear of the car but the overall design of the car stays loyal to the retro looks of its smaller brother.
The Fiat 500L will immediately draw comparisons with the Mini Clubman and its extended, estate-like design compared to the Mini Hatchback.
Indeed, the standard Fiat 500 is widely regarded as a premium competitor to Mini and more parallels can be drawn because of the retro style of both cars.
The new Fiat 500L will expand the two-strong 500 range (hatchback and convertible) with a more practical and spacious version.
However, engine choices for the new Fiat 500L are expected to follow those of the 500. This means low-CO2 MultiJet diesel engines and even the possibility of the groundbreaking two-cylinder TwinAir petrol.
The Fiat 500L is still a concept at the moment. It will be revealed in the metal at the Geneva Motor Show in March this year.
Prices and a launch date for a full production version have not been released by Fiat but more information is expected next month.
The standard Fiat 500 is on sale now at UK Fiat dealerships in the UK with prices starting from £9,960.