As you can see from the spec below it is loaded with Ubuntu
Here is the specs for the device:
700MHz ARM11
128MB of SDRAM
OpenGL ES 2.0
1080p30 H.264 high-profile decode
Composite and HDMI video output
USB 2.0
SD/MMC/SDIO memory card slot
General-purpose I/O
Open software (Ubuntu, Iceweasel, KOffice, Python)
more information
raspberrypi.org