Its Maybelline brand and recycling firm TerraCycle will install the recycling points in branches of Tesco, Boots, Sainsbury's and Superdrug.
L'Oreal's UK boss said the firm wants to "lead the way" in creating beauty recycling habits.
But Greenpeace said without reducing single-use plastic production, firms "cannot claim they are doing enough".
From Thursday, consumers can drop off empty make-up products from any brand at the recycling bins in participating Tesco and Superdrug stores, which can be found online.
Boots and Sainsbury's will follow at the end of September.
Compacts, eyeshadow palettes, foundation or concealer tubes, mascara, eyeliner and lip products will be accepted, although make-up brushes, nail polish and aerosols will not.
The used items will be collected from the shops, sorted, cleaned and recycled into plastic pellets, which can be used to make other products, such as outdoor furniture.
Chains such as The Body Shop and skincare specialist Kiehl's, which is also owned by L'Oreal, already offer customers rewards for returning empty products to stores to be recycled.
Vismay Sharma, country manager of L'Oreal UK and Ireland, told the BBC that the firm had the "ability to make impact at real scale".
Nearly half of make-up wearers did not know that recycling beauty products was possible, according to a recent survey of more than 1,000 consumers by Maybelline.
Asked what differentiates Maybelline and TerraCycle's new "Make-up Not Make Waste" scheme from other similar ones, Stephen Clarke, head of communications at TerraCycle, said that the number of stores participating meant it would be easier for consumers to recycle their beauty buys.
He also said the firm can recycle mixed materials, such as compacts with mirrors, as well as beauty items with pumps and triggers, which local councils won't necessarily do.Orginal Source