The ad campaign, created by Wieden+Kennedy Portland, carries the strapline, "The hardest job is the best job", and forms part of P&G's 'Proud Sponsor of Mums' campaign.
The TV ad features mums from all over the world supporting competitors at every age, as they develop from child athletes to Olympians. It culminates in footage of Olympic athletes winning medals and their mums watching in the stands.
The ad was created by creative directors Danielle Flagg and Karl Lieberman, copywriter Kevin Jones and was produced by Anonymous Content.
It was directed by Alejandro González Iñárritu, the man behind Nike's 'Write the future' World Cup 2010 campaign and films including 'Babel'.
The TV ad has been accompanied by a digital campaign, which went live yesterday (17 April), fronted by Dawn French.
The UK-based campaign is part of a series of online films called '‘Raising an Olympian' that tell the stories of athletes' mums, including those of Victoria Pendleton and Sir Chris Hoy.
Irwin Lee, managing director and vice-president of P&G UK and Ireland, said: "Launching our first global P&G campaign allows us to shine a light on the amazing work mums do every single day in raising their children.
"At P&G, our business is all about supporting mums across the world with products like Pampers, Ariel and Fairy.
"Through our partnership with the IOC, we are using our voice to celebrate mums for everything they do, and to inspire people everywhere to express thanks to their mum or a mum that they know."
The P&G campaign is part of a decade-long global sponsorship deal with the International Olympics Committee, running until 2020.
Since launching its first P&G corporate branded campaign in the UK last year, P&G claims to have seen increases in trust among UK consumers and a 20% uplift in familiarity, and a 10% lift in favourability.
P&G is also rolling out individual brand campaigns across its portfolio to support the Olympic partnership.