The online game, called , will run for four months and uses Google Maps and Google Earth technology to transform the whole world into a Monopoly board.
Players will be able to buy and sell properties on any street they desire, however each address can only be bought by one person.
The online version, and the new Monopoly City edition, let players build skyscrapers, football stadiums and other buildings as well as the usual houses and hotels on their streets, which they can use to earn extra rent and increase their fortunes.
Rent is paid automatically each day, from 5,000 Monopoly dollars for a house to 550,000 for the prestigious Monopoly tower.
Players can also use the 'Chance' cards to ruin rivals by building prisons, rubbish dumps and sewage works on their streets.
Users have to register their details to play the game and once logged in can compete against friends.
The online campaign, created by digital agency Tribal DDB, launches worldwide on September 9.
It is aimed at promoting the new Monopoly City edition, which allows players to build 3D cities in the middle of the Monopoly board.
The game features 80 3D buildings, including houses, industrial complexes, schools, skyscrapers and stadiums, as well as sewage plants and prisons.
Helen Martin, global brand leader for Monopoly, said: "The online experience, Monopoly City Streets, emphasises the exciting dealing and negotiating elements of Monopoly.
"Both Monopoly City Streets and Monopoly City bring a new creativity to Monopoly that goes beyond the traditional property streets and the green houses and red hotels."
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