The office suite includes a number of new features and improved functions as well as the inclusion of Office Web Apps.
These are online versions of Microsoft's most popular office productivity programs, which can be accessed via a web browser and an internet connection, ensuring you don't need the productivity suite installed on a machine to access Office documents.
The cloud-based software can then be used to view, edit and share Word, PowerPoint, Excel and OneNote documents online.
Office Web Apps was rolled-out across the UK, US, Canada and Ireland last week, ahead of the launch of the full program.
The online version of Word initially only offers basic functions such as printing documents, copying and pasting text, inserting images and hyperlinks, creating tables and spellchecking.
Excel, PowerPoint and OneNote have even fewer features, although Microsoft said it plans to offer more functionality over time.
Office Web Apps also integrates the Windows Live SkyDrive storage service, which offers up to 25GB of online space.
You'll need a Windows Live ID in order to access the service. If you've got a Hotmail account or use other Microsoft web-based services, you'll already have one. Otherwise, you can register for one at home.live.com.
Businesses were given the chance to get their hands on Microsoft Office 2010 last month.
Amazon started taking pre-orders for Office 2010 at the end of April. The online retailer is currently listing a three-user Home and Student version for £84.99, a single-user version of Microsoft Office 2010 Home and Business for £190.79 and the Professional version for £357.19.
See also: How to use Microsoft Office Web Apps