The Government has ordered 50 million tests which can show if a person has already had coronavirus.
It is widely believed that contracting the virus creates immunity against future infection.
It is hoped the new antibody tests will be a "game changer" in the UK's battle against Covid-19, and could allow people to get back to work or socialising if they are found to have protection from infection.
The tests come following a breakthrough by scientists at the University of Oxford, who are working for the Government-backed Rapid Testing Consortium and believe the test is 99% effective, Mail Online reports.
However, the World Health Organisation warned only yesterday that there is no evidence people who develop antibodies after recovering from Covid-19 are immune to a second infection, casting doubts over a lockdown "exit strategy" which relies on the tests.
The pinprick tests are expected to cost £10 and could be rolled out as soon as June.
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They work by taking a small sample of blood for analysis and can provide results in as soon as 20 minutes.
Similarly to a pregnancy test, if two lines appear, users will know they have antibodies which may be able to help to fight off the killer bug.
If one line appears, it means a person either does not have antibodies produced in response to coronavirus or that the test has not worked.
Speaking to Mail Online, a Government source said: "This could be the game changer – a breakthrough moment to help us turn the tide on the virus."
The "lateral flow" test has been designed by analysing the blood of patients who have been infected with Covid-19 but have displayed few or no symptoms.
The Rapid Testing Consortium believes it could deliver up to 1 million tests a week by the summer, meaning a total of 50 million by next year.
Its leader, Jonathan Allis, said: "We are close to picking up 100% of all cases where people have antibodies. Now it is just a question of scaling up the manufacturing process."
Health Minister Lord Bethell said: "This is a great story of how our manufacturers are stepping up to the challenge of Covid, and I am hopeful that their product will make an impact in our battle against this terrible disease."
It is understood that key workers would be first in line to be eligible for the new tests.
However, WHO has warned governments against issuing "immunity passports" or "risk-free certificates" to people who have survived Covid-19 as their accuracy cannot be guaranteed.
The UN body says the practice could actually increase the risks of continued spread, as people who have recovered may ignore advice about taking standard precautions against the virus.
A spokesman said: "Some governments have suggested that the detection of antibodies to the SARS-CoV-2, the virus that causes COVID-19, could serve as the basis for an 'immunity passport' or 'risk-free certificate' that would enable individuals to travel or to return to work assuming that they are protected against re-infection.
"There is currently no evidence that people who have recovered from COVID-19 and have antibodies are protected from a second infection."
The WHO said they are continuing to review the evidence on antibody responses to the coronavirus - adding that most studies show that people who have recovered from the infection have antibodies
It comes after the UK's coronavirus death toll in hospitals passed 20,000 today after a rise of 797.
The latest figures from England, Wales and Scotland bring the number of lives lost to the disease to 20,303.
The tragic figure comes less than a month after NHS England medical director Stephen Powis said he was optimistic deaths could be kept below 20,000.
