Ms McKenzie-Price, former editor of women’s service monthly All You in the US, will take up her new role in July.
She replaces Sue Rose who, after three years at the title, has left to achieve a better work-life balance.
Commenting on her appointment, Ms McKenzie-Price, said: "Ideal Home is a fabulous magazine to edit, and with the launch of the new homes portal, it can only become stronger. In the US, great websites have driven growth in iconic print brands, and Ideal Home, already number one in a highly competitive market, has the same exciting potential.
"The homes portal is a project that we've had on the drawing board for some years, waiting for the right moment to launch. I'm thrilled that it is taking shape at the perfect time when consumers in the market are so hungry for an online experience that offers them inspiration for every room in the house."
Managing director of IPC Southbank, Jackie Newcombe, added: "Southbank is the outright leader in the homes sector and Ideal Home is the star performing brand. Who better to take the helm of our flagship title and launch the country's biggest homes portal?
"Isobel exudes passion for this market, both online and offline, and she will undoubtedly strengthen our position in what is a key market for us."
The homes portal is due to launch next month.
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