'Pepsi Max World Challenge' will feature Pepsi's roster of football stars, which includes England captain David Beckham and Brazil's Ronaldinho.
It will be backed by a budget of £4m and supported by several major clubs, including Manchester United and AC Milan.
The series, which will be created by Freedom Media, will target teenage boys by offering them the chance to compete to join a football team and win £50,000. Team trials will begin this Sunday on Channel 4's T4 youth strand.
The programme will be promoted via mobile, print and magazine partners, as well as through significant on-pack activity. It follows music show 'Pepsi Max Downloaded', which ran this summer.
Pepsi is not an official partner of the World Cup, but will hope the activity helps it steal a march on rival Coca-Cola, which is.
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