by Googling I found out that Linux OS
is one of the best OSes for Embedded
devices(may be/may not be)
It gives you a lot of functionality at on the face of it, low cost. However you have to factor in the cost of the hardware needed to run it, when you might otherwise have been able to use lower cost devices, and the huge amount of third-party code over which you have little control. Also it is not suited to hard real-time applications. By using Linux, you will have implicitly imposed a requirement for a 32 bit processor with an MMU (unless you use uClinux and loose memory protection), and several Mb of RAM and non-volatile storage.
Also you'd learn a lot more about embedded systems by not initially targeting Linux, but using an RTOS or real-time kernel such as FreeRTOS, QNX, VxWorks, eCOS, uC/OS-II or III for example, or just programming 'bare metal' without an OS or executive at all.
A good resource for embedded systems articles is http://embedded.com/
Regarding hardware, ARM is the most ubiquitous architecture in embedded systems used everywhere including phones, PDAs, STBs, DAB radios, digital cameras, hand-held games, netbooks, iPad, robotics etc. It is available from many chip-makers, in a wide range of cost/performance and peripherals and on-chip memory. A Cortex-M3 based part would be a good introduction, and is a cleaner design that the older ARM7TDMI core that it essentially replaces. (so long as you don't want to run Linux in which case you'll need at least an ARM9 with external memory).
If board/tool cost is critical, you might rather use an 8bit device, and I suggest something based on Atmel's AVR. These devices are simple, come in an extensive range, and are suited to programming in C (and C++ if you wish). PIC may seem attractive, but it covers a range of largely incompatible architectures (each requiring different tool-chains) and unless you use a high end-device (PIC24/dsPIC for example), they do not present the best platform for programming in C or C++.
