The new product promises 3D content with a 360-degree experience in gaming, virtual travel experiences and entertainment. It's aimed at both children and adults.
My3D looks like a pair of binoculars with a slot in which the iPod or iPhone is inserted. The device will be priced at $30 and will be available from spring.
Apple's App store will offer additional My3D content, which will vary in price and some apps will be free.
Hasbro was guided by Apple during development and has teamed up with Dreamworks Animation to develop material.
My3D will also use content from a 3D television network from Discovery, Sony and Imax, scheduled to make its debut next year. Viewers will be able to see trailers and behind-the-scenes snippets from films for up to 20 minutes.
Hasbro will also use the device to market its own brands in a 3D experience, though details haven't been set.
Meanwhile, the firm worked with LA Inc, the Los Angeles Convention and Vistors Bureau, to create virtual travel experiences that include visits to the Wax Museum and the Santa Monica Pier.
Other apps will simulate users being immersed in deep water, exploring coral reefs or playing a shark attacking a tuna. There are also shooter games in a virtual galaxy.
Brian Goldner, president and CEO of Hasbro, commented: "The idea of being able to be somewhere in Los Angeles, in this 360-degree environment, to be in the shark tank, to be able to swim with the fish and chase after the fish. These are really breakthrough immersive experiences."