Called HomeSafe, the service has three elements - Virus Alerts, KidSafe and Homework Time - which block infected sites and emails, as well as selectively blocking certain sites at certain times of the day, for home users of the telco's broadband service.
Virus Alerts is billed as alerting system that blocks web pages infected with any kind of malware, to protect customers' computers and other devices.
The KidsSafe parental controls, meanwhile, blocks content that parents would rather their kids did not see, including pornography, violence and/or gambling.
Homework Time is billed as allowing parents to block social networking sites like Facebook and online gaming, which are common sources of distraction for school children from their homework.
The default setting of HomeSafe is off, meaning that customers can switch any or all elements of the service on or off as required, Infosecurity notes.
Announcing the service, Tristia Clarke, commercial director of TalkTalk, said that the firm's customers say they could not imagine living without the internet now, especially given how much their children rely on it for school work and social reasons.
"But they still worry about the innate risks the internet brings with it. In particular they're concerned about what sort of things their children could stumble across when they're surfing online", she says.
"This is especially important now that children are regularly using devices like phones, and not just the main family PC, to access the internet. Our research found that 33% of children aged 12-17 use their mobile phones to surf social networking sites and 29% use it to instant message when at home", she adds.
Clarke went on to say that the service is not a silver bullet and it does not absolve parents from the responsibility of knowing what their children are up to online.
Will Gardner, Chief Executive of Childnet, said that children under the age of 15 have never known a world without the internet.
"It's revolutionised how they learn, play and communicate with each other. But it also comes with potential risks, just as the physical world does, and we know that lots of parents, and indeed many children too, worry about what sorts of material they can be exposed to online", he says.
"We are delighted that TalkTalk is offering this new system. We support the introduction and offering of such tools, at no cost to the user, as they can really help parents look after their children online in the same way they would naturally do offline", he adds.
Justine Roberts, co-founder and CEO of Mumsnet, meanwhile, said: "Helping our children stay safe on the internet is a new challenge for this generation of parents and anything that makes that easier has got to be a good thing."