complained on the grounds that the ad was "unrepresentative of the positive effect video games have on the UK's youth".
Games publishers Sega and Atari have also expressed frustration about the ad.
The ASA said 25 members of the public have made similar complaints.
It has not yet decided whether to investigate the ad and has not yet logged the complaint from MCV.
MCV said: "The advert implies to its audience [parents] that by preventing their child from playing games, they will help ensure their future health.
"Not only is this strictly not true, but runs the genuine risk of hurting small businesses.
The ad, which shows a boy holding a PlayStation controller while staring at the TV, has been created by the charities Cancer Research, The British Heart Foundation and Diabetes UK, to support the Department of Health's Change4Life anti-obesity campaign.
MCV's complaint follows a meeting between the Entertainment and Leisure Software Publishers Association (Elspa) with the Department Of Health over the contents of the ad.
Elspa told MCV that the ad contradicted the responsible position taken by the gaming industry, as demonstrated on its .
Separately, Sony Computer Entertainment Europe is reportedly considering legal action over the use of the PlayStation-like controller in the ad.
MCV, quoting a Sony source, said that the agency behind the ad, The Gate, had not contacted the platform holder to ask about using a controller that bears a close likeness to PlayStation's pad.
Change4Life is a government initiative aimed at preventing people from becoming overweight by encouraging them to eat better and exercise more.
The Change4Life ad campaign began on TV, in the press, on billboards and online at the start of January.