BBC is reporting that the companies have promised new mobile computing products, which they believe will "go far beyond devices and services on the market today".
It was said that the partnership would revolve around a number of open-source mobile Linux software projects, but that it was too early to discuss exact products.
"We will talk about products when we are ready to talk about products," said Intel senior vice president Anand Chandraseckher.
"With the convergence of the internet and mobility as the team's only barrier, I can only imagine the innovation that will come out of our unique relationship with Nokia. The possibilities are endless."
We'll be keep you up to date on any developments on this story when we get them – let us know what you think the companies could have up their sleeve below.