The agency was shortlisted along with six other agencies for the honour, which is handed out on September 8.
The Emmy Awards are most famous for recognising the best in television programming in the US, but there is also a special ceremony known as the Creative Arts Emmy Awards.
Unlike other ad ceremonies that are dogged by accusations of "scam ads", the only ads that can be entered into the Emmys are ones that have been seen by a minimum of 51% of the viewing public during a prime-time slot.
'Happiness Factory' meets this criterion because it was shown during the Super Bowl, one of the biggest television events of the year in the US.
In the Prime Time Emmy Awards, HBO mob drama 'The Sopranos' has been nominated in 15 categories.
British successes including Hugh Laurie, who is nominated for his role in 'House'; Helen Mirren for 'Prime Suspect'; Jim Broadbent for 'Longford'; and Ricky Gervais in 'Extras'.
The full list of nominees for best commercial is:
Animals - American Express
Agency: Ogilvy Mather
Production company: Hungry Man
Battle - Cingular
Agency: BBDO New York, Ad Agency
Production company: Park Pictures
Happiness Factory - Coca Cola
Agency: Wieden Kennedy Amsterdam
Production company: Psyop Production
Jar - GE
Agency: BBDO New York
Production company: Traktor Production
Pinball - Pepsi
Agency: BBDO New York
Production company: Partizan Entertainment
Singing Cowboy - Truth
Agency: Arnold
Production company: MJZ Production
Snowball - Travellers
Agency: Fallon
Production company: MJZ Production