Plans and designs for a PSP camera have been doing the rounds on the internet since shortly after the PSP was announced over three years ago.
But demand may be limited as the Go!Cam has a resolution of just 1.3-megapixels, lower than most modern mobile phones.
The unit plugs into the mini-USB port on top of the PSP and sports a built-in microphone. Its lens can be rotated vertically by 180-degrees for use as a traditional camera or webcam.
Stephane Hareau, PSP marketing manager at Sony Computer Entertainment Europe, hailed the new addition as "something new, fun and creative."
With a 4GB memory stick installed, users should be able to store around two and half hours of video or 40,000 photos.
The package also comes with Go!Edit, an editing software package which allows users to save and edit photos, video and audio clips on the PSP, as well as add sounds and graphical effects.
Go!Edit also allows users to upload their creations onto the internet directly from the PSP.
Go!Cam is due to hit shelves on 16 May across Europe and will retail for €49.99 (A$120.65)or £34.99 (A$84.45).