Look Back seems designed for those who like to reminisce and enjoy a touch of nostalgia - both Web and mobile users can either watch a personalized movie, view a collection of their top photos, or read a "thank you" card from Facebook, depending on how much content they have posted to the service.

Facebook said users who the movie will be able to edit the posts that are included in each movie, to do things like remove ex-girfriends or old bosses.

The "Look Back" feature is already available, and can be viewed and enjoyed at at facebook.com/lookback.

"It's been an incredible journey so far, and I'm so grateful to be a part of it. It's been amazing to see how people have used Facebook to build a real community and help each other in so many ways," Facebook CEO Mark Zuckerberg said in a statement.

"In the next decade, we have the opportunity and responsibility to connect everyone and to keep serving the community as best we can."

The Verge reported that Facebook spent several weeks putting together the "Look Back" feature, which is similar to its 'Year in Review' posts but with the addition of personalized video montages.

"One of the things that motivated us was that there's really only a handful of companies that could take on something like this – that could render videos for as many people as we can," Nick Kwiatek, Facebook's engineering lead on the project, told The Verge.

Facebook has been performing successfully of late thanks largely to big profits in the mobile advertising space.

Look for Look Back to pop up in your News Feed  on Tuesday or check it out early here.