The broadcast goes out tonight and shows Prime Minister Blair and Chancellor Brown chatting in a softly lit office over a glass of mineral water.
In it, the pair discuss the importance of children and Brown's achievements as Chancellor. The spot, dubbed by The Independent as 'Tony and Gordon - The Movie', attempts to dispel the notion that Blair and Brown no longer have a working relationship.
Blair says: "It's about recognising that, whatever the tensions, it is a partnership that has worked."
Other famous film directors to have turned their talents towards party election broadcasts include Ken Loach, who has produced spots for Arthur Scargill's Socialist Alliance and former Labour MP George Galloway's Respect party.
A now infamous spot from the 1987 election featuring Neil Kinnock standing on a hillside accompanied by a stirring score was directed by 'Chariots of Fire' director Hugh Hudson.
The Labour Party political broadcast goes out tonight on BBC One at 6.55pm, BBC Two at 5.55pm, ITV1 at 6.55pm and Channel 4 at 7.55pm.
Minghella's other films include the American Civil War drama 'Cold Mountain' starring Jude Law, 'The Talented Mr Ripley' and 'Truly Madly Deeply'.
He also directed the most recent Guinness ad, created by Abbott Mead Vickers BBDO, which showed a convict being transported to a ranch in the desert where, as part of their rehabilitation, the men learn to tame wild mustangs.
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