IGA and Activision will work in tandem to integrate the ads into the titles in a contextually relevant way.
'Guitar Hero World Tour', the next instalment in the Guitar Hero franchise, will be the first game to feature the integrated ads, followed by future Activision titles.
All the ads can be updated in real time, allowing for campaigns to change creative without a major reprogramming effort.
Justin Townsend, chief executive of IGA Worldwide, said: "Activision has one of the most impressive stables of games in the video game industry.
"To partner with them demonstrates the appeal of in-game advertising to marketers and consumers, alike. We will be able to connect more brands with engaged users than ever before."
Activision is the second publisher to sign a deal with IGA since Sony opened the PS3 platform to in-game ads.
Dave Anderson, head of business development at Activision, said: "Our partnership with IGA will allow us to deliver dynamic in-game advertising to the growing PlayStation Network community for the first time.
"By incorporating dynamic in-game advertising in our titles where it is appropriate, we can increase the realism of our games by presenting consumers with authentic environments in genuine settings, while also expanding a key growth opportunity for the company."