The mobile network, which is known as a "virtual" operator since it leases network capacity from O2, currently has 1.5 million subscribers. It competes with a number of so-called virtual operators, such as Blyk and Virgin Mobile.
Specialist mobile ad agency 4th Screen Advertising will handle ad sales for Tesco Mobile's portal. Brands set to advertise on the site include Cancer Research, Citroen and direct.gov.
Usage of the Tesco Mobile portal, hosted and managed by InfoMedia Services, has grown sharply since its launch in May last year. It recorded 300,000 unique visitors in December.
A survey of Tesco Mobile users conducted by InfoMedia during a trial of mobile advertising revealed that banner advertising served to the Tesco Mobile portal delivered a strong user click-through rate of between 3% and 7%. The survey also found that six out of 10 subscribers to Tesco Mobile's online mobile portal were female.
InfoMedia Services commercial director Michael Tomlins said the figures showed that Tesco Mobile's customers were receptive to mobile advertising.