The deal includes breaks and bumpers around each episode of the 10-week series, branding on the website and a licensing agreement.
Coca-Cola will use the opportunity to promote its 1.25 litre share-sized pack, which was launched earlier this year.
"There is a great link here between the audience profile of the show and consumers of our new share size pack," Charlotte Oades, marketing director of Coca-Cola Great Britain, said.
The breaks and bumpers star security guards Goran and Ivan who are left to look after an empty office for the weekend. They order in pizza and Coke, which they use as props to play tricks on one another to alleviate the boredom.
The ads have been created to appeal to the show's audience as well as reflect the show's comic tone.
The second series will appear in a similar format to the first, where the show's hosts Ant McPartlin and Declan Donnelly present spoofs, stunts and games in the studio, including Win the Ads, where a viewer can win the products featured in the ad breaks.
A new feature is Ant & Dec Undercover and Ant & Dec Unplanned where the duo will be asked to perform a series of stunts that only the producers of the programme will be aware of.
The sponsorship deal was negotiated between Dahlia Epstein at BBJ for Coca-Cola and Katherine Bettel at Granada Enterprises.
Coca-Cola sponsored ITV1's doomed Saturday evening football show 'The Premiership', which was pulled when ratings failed to live up to expectations.
It was swiftly replaced by Saturday evening ratings juggernaut 'Blind Date', which is set to lose Cilla Black as its host at the end of the current series after 18 years.
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