It is not believed that the ad will feature White, who described Coca-Cola as the greatest drink in the world and said he used to drink six cans a day in an interview with Contactmusic.com.
The band from Detroit is best known for anthem 'Seven Nation Army', which reached number seven in the charts in 2003, as well as their habit of wearing only red, white and black clothes.
Speaking to NME.com, White claimed the song was written specially for the ad, "really quickly".
"I certainly wouldn't want a song that I'd already written to be used on a commercial. That seems strange. [But] to be asked to write something particular along one theme of love in a worldwide form that I'm not used to really appealed to me," he said.
Coke's global ad brief recently went to Wieden & Kennedy.
If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the .