The plans were outlined in the corporation's Future of the BBC report, which was published on Monday.
The BBC says the channel shouldn't be compared with Channel 4 but should compete with the emerging giants of internet TV. It wants to build on the BBC Two's reputation "as one of the highest-quality channels in the world to provide even more of what makes it most distinctive", as part of the reinvention.
In its analysis of BBC Two, the broadcaster noted:
"we recognise that world-class quality and innovation don’t come cheap, so we will focus our investment on the most memorable and channel-defining programmes.Outlining its aspirations for BBC Two, which celebrated its 50th anniversary last year, the BBC said:
"We will make BBC Two’s primary and governing objective the delivery of this distinctiveness. BBC Two will offer a unique combination—an audience big and broad enough to attract and be a showcase for world-class creative talent, but never a place so big that audience share comes before innovation as the measure of success.
Success for this BBC Two will not just be measured in the time audiences spend with it, but whether those programmes were memorable and world-class."
While BBC Two is safe, despites threats to close it down in recent months, the BBC's Director General Tony Hall says closures of other services are "inevitable".