Three Chinese brands - dairy products company Yili, computer maker Lenovo and China Mobile - followed, ahead of fifth-placed Adidas.
The survey was conducted in April/May 2008 and is the eighth in a quarterly series started by CSM Media Research, the Beijing-based partner of TNS, in 2006.
It is based on the combination of a poll of 1,500 consumers in 10 Chinese cities, analysis of the creative treatments of Olympics advertising in China and associated media spend, and measurement of China's TV audience for Olympics programming.
Coca-Cola has consistently headed the Olympic Performance index, apart from losing out to Yili in January 2007.
Matthew Brosenne, business development director at CSM, attributed the soft drinks giant's dominance to its 86 years of Olympic marketing experience.
He said: "Coca-Cola is winning because it started early, has shown good strategic planning and regularly refines its work."
Apart from Coca-Cola, there are three global brands in the top ten compared to six domestic brands.
Yili has held second place for the last five surveys while Lenovo and China Mobile have vied for third and fourth.
Adidas has mainly achieved fourth or fifth place since the survey began, with McDonald's consistently in sixth. Visa has made some top ten appearances but has been squeezed out by Chinese brands in the latest ranking.
Olympic Performance index, April/May 2008:
1 Coca-Cola
2 Yili (Chinese dairy products company)
3 Lenovo (Chinese computer manufacturer)
4 China Mobile
5 Adidas
6 McDonald's
7 Bank of China
8 Samsung (mobile phone category sponsor)
9 Tsingdao (Chinese beer brand)
10 Haier (Chinese white goods manufacturer)