The note depicts images of the Queen over her lifetime, including a picture of her at Balmoral, an official photograph taken in the 1940s, an image of her attending the Mass for the Order of the Thistle, and one taken at Epsom Racecourse in 2008.
The note, launched by the Royal Bank of Scotland (RBS) and approved by the Queen, is available in branches in Scotland as well as to order for its face value plus postage charges.
Two million notes will be issued, with initial supplies already in circulation, to celebrate the Queen's 60-year reign.
RBS chairman Sir Philip Hampton said: "RBS has a long connection with royalty and a tradition of issuing notes to commemorate royal celebrations.
"We felt that this was the most fitting way to honour the Queen's Diamond Jubilee and her long reign as monarch."