In recent years, security vulnerabilities have been found in everything from ovens to toy dolls, and the new move follows a consultation with academics, retailers, manufacturers and GCHQ's National Cyber Security Centre.
The proposed laws would force companies to provide a public point of contact to let users report any vulnerabilities, as well as ensuring all devices with access to the internet all have a unique password.
Firms would also be required to state the minimum timeframe for a device to still receive security updates.
According to BBC, Digital Minister Matt Warman said: "Our new law will hold firms manufacturing and selling internet-connected devices to account and stop hackers threatening people's privacy and safety.
"It will mean robust security standards are built in from the design stage and not bolted on as an afterthought."
Meanwhile, a spokeswoman for the Department of Digital, Culture, Media and Sport couldn't specify a timeframe for the new legislation.
Cyber-security expert Ken Munro added: "I'm supportive of the government's proposed legislation, so long as it is the first step on a path towards wide-ranging, robust regulation of the internet of things."