The Japanese electronics maker has priced its entry level model at $429 (£262), which is cheaper than the base model of Apple's ipad2.
The company said its base model comes with wi-fi ability and is targeted at consumers who use tablets at home.
The tablet will go on sale in the US on 10 July.
'Non-Apple products'
The success of Apple's ipad has encouraged many computer and electronics companies to enter the segment.
Samsung has launched its Galaxy tab, while Sony has also announced its entry with two new models.
While none of them have been able to make a significant dent in Apple's market share, Toshiba said demand for other products was increasing gradually.
"There is a market out there of folks who want to buy non-Apple products," said Jeff Barney of Toshiba America.
Source: BBC