The app features over 1,000 questions to test users' knowledge and speed. Players can call on the classic lifelines from the TV gameshow — Ask The Audience, 50:50 and Phone-A-Friend.
Additionally, the app lets gamers pit themselves against the clock by selecting either a fast or slow-timed game as a further challenge.
Costing £2.99, the app can be bought by iPhone and iPod touch users from Apple's App Store.
Ed Louwerse, managing director, 2waytraffic International, Sony Pictures Television, said: "Our strategy is to constantly refresh and reinvigorate the Millionaire brand both on air and through various brand extensions.
"This new quick-fire game for iPhone and iPod touch provides an authentic 'Who Wants To Be A Millionaire?' experience utilising the TV show's music and graphics while also offering some new variations on the classic game."