We present a new leptogenesis scenario, where the lepton asymmetry is generated by CP violating decays of heavy electroweak singlet neutrinos via electromagnetic dipole moment couplings to the ordinary light neutrinos. Akin to the usual scenario where the decays are mediated through Yukawa interactions, we have shown, by explicit calculations, that the desired asymmetry can be produced through the interference of the corresponding tree-level and one-loop decay amplitudes involving the effective dipole moment operators. We also find that the relationship of the leptogenesis scale to the light neutrino masses is similar to that for the standard Yukawa-mediated mechanism.