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Depends on your version of Ubuntu.
$ sudo dpkg-reconfigure -plow unattended-upgrades
Will work on systems built on Debian 6.0 (Ubuntu 12.04)
$ sudo apt-get install unattended-upgrades
$ sudo nano /etc/apt/apt.conf
# Add the following
APT::Periodic::Update-Package-Lists "1";
APT::Periodic::Unattended-Upgrade "1";
Will work on systems built on Debian 7.0 (Ubuntu 14.04)
At least that is my understanding, someone might want to confirm.
These are more complete instructions (from the official source) than what is provided here on the date I published this answer.
https://help.ubuntu.com/14.04/serverguide/automatic-updates.html