Time said it was publishing a special issue of the magazine with a red "X" over Osama bin Laden's face, something it did previously with Adolf Hitler and Saddam Hussein.
Time said the special issue on the death of the Al-Qaeda leader, killed by US troops in Pakistan on Sunday, will appear on newsstands on Thursday. It said the cover will feature a red "X" over a picture of bin Laden's face.
Time ran similar covers in May 1945, following the death of Hitler, in April 2003 following the death of Saddam Hussein and in June 2006, following the death of the Al-Qaeda leader, Abu Musab al-Zarqawi in Iraq.
The New York Times, meanwhile said that it had increased its print run of Monday's newspaper by an additional 165,000 copies to cope with demand for news on the death of the 9/11 mastermind.
The Times also said it was breaking with its usual style and dropping the honorific "Mr." for bin Laden, referring him only as bin Laden on second reference.