The MovieMaker kit includes a digital camera, which plugs into a computer port, and Lego characters, sets and props.
The kit can be integrated with Lego's classic building blocks - named earlier this year as 'Toy of the Century'.
Moving clips or still images can be captured on a computer monitor, and all the shots are recorded and stored on a hard-drive.
It is only the second time that the director of blockbuster hits including Saving Private Ryan, Schindler's List and ET has lent his name to an entertainment product.
For any budding movie maker hoping to recreate Spielberg's Jurassic Park, the range of characters includes dinosaurs - as well as more mundane animals and people - and the library of sound effects has the roar of an angry T-Rex.
Additional sets of props and characters, including a bank, car stunt area and a rotating city are planned for 2001.
The editing software, which was developed by Lego and Pinnacle Systems, allows users to save completed movies and send their films to friends via email.
Profits donation
The film-making kit, which will reach US stores in November, is the latest example of Lego's move towards integrating technology with its classic building blocks.
In 1998, the company launched a set of bricks with embedded micro-chips, allowing them to be built into robots and controlled by computer.
The only other product that Spielberg branded with his name was a 1996 CD-ROM Steven Spielberg's Director's Chair, an interactive, movie-making game put out by Knowledge Adventure and Spielberg's company DreamWorks Interactive.
All of Spielberg's proceeds from the MovieMaker set will be donated to two charities: the Starbright Foundation, which helps seriously ill children, and The Survivors of the Shoah Visual History Foundation, which preserves testimonies of Holocaust survivors.