Hip-hop mogul Sean 'Diddy' Combs is desperate for New Yorkers to enjoy their New Year's Eve celebrations - he's offered to pay cab fares to ensure drunken revellers get home safely.

The rapper is teaming up with New York's Taxi + Limousine Commission to give away thousands of free cab rides.

Street teams will hand out $15 debit cards in Times Square and Chelsea from 11 p.m. on Wednesday night through to 3 a.m. the following day, or until the supply runs out.

Combs tells the New York Daily News, "New York is the world's most iconic New Year's Eve city, so let's lead by example and show everyone that a sophisticated holiday celebration doesn't just end when the ball drops, but when everyone gets home safely."

It seems Combs has set his sights on re-invigorating the Big Apple's New Year - last week, the star vowed to give $1 million to charity in exchange for the chance to redesign New York City's famed New Year's Eve ball.