It plans to distribute a total of 600,000 copies.
It is feared that jobs could be lost as a result of the change.
The decision follows News International's closure of its rival free evening title thelondonpaper, after concluding that it could not sustain the freesheet.
The London Evening Standard, formerly published by Associated Newspapers, was bought by Russian billionaire Alexander Lebedev earlier this year and relaunched in May.
The newspaper was launched as an evening title on 11 June 1859, priced one penny.
ES Magazine was launched in 1987, followed by the Hot Tickets and Homes & Property supplements in September 1996 and Just the Job in September 1997.