US-based Facebook has over 1.3 billion users globally and more than 100 million users in India.
"Millions of people use Facebook every day to connect with people and things that matter to them most. Your friends are at the core of your Facebook experience, and we are always looking for new ways to help you celebrate those friendships," Facebook said in a blogpost.
Users can create as many personalised videos as they like for their friends, relatives and co-workers present on Facebook.
To create a 'Say Thanks' video, users will have to choose a friend and a video will be created and ready to share.
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Users can select one of the four different themes and choose the photos and posts that represent their friendship, the blogpost said.
The video will be shared on the user's timeline along with the timeline of the person it is dedicated to.
In February this year, Facebook had launched a similar initiative to celebrate its tenth anniversary. It offered users a personalised video summarising their life on Facebook over the past years.