The New York designer, who is the creative director of fashion house Balenciaga, announced the collaboration on Instagram and celebrated shortly after a H&M Loves Music dance party at Coachella.
"I am honoured to be a part of H&M's designer collaborations," he said.
"The work with their team is an exciting, fun process. They are very open to pushing boundaries and to set a platform for creativity. This will be a great way for a wider audience to experience elements of the Alexander Wang brand and lifestyle."
H&M also released a statement. "Alexander Wang is one of the most important voices in fashion today," said the high street giant's creative advisor Margareta van den Bosch.
"He understands exactly what people want to wear and does it with an energy and passion that's infectious. It feels incredible to be collaborating with him this year."
Alexander posted a video on his Instagram page depicting a countdown to the Wang X HM launch on a basketball scoreboard.
H&M are known for their designer collaborations. Most recently Isabel Marant joined forces with the retailer, unveiling a highly-anticipated range in November of last year. Most of the collection sold out with days.
Other designers to collaborate with H&M are Karl Lagerfeld, Stella McCartney, Matthew Williamson, Roberto Cavalli, Versace, Lanvin, Jimmy Choo, Marni, Sonia Rykiel and Viktor & Rolf.
Including a range of men's and women's clothing, as well as an array of signature accessories, Alexander's collection will go on sale in stores from November 6.