The campaign targets young men and features a TV ad running across terrestrial and digital channels, with the ad also airing on video on demand services ITV.com, 4oD, Five and Sky Player until March.
Activity is also live on www.cokezone.com, with a PlayStation promotion supporting the campaign.
The ad, created by Ogilvy Brazil, shows a sports car driver break down on a deserted high-way.
As he takes a sip of Coke Zero, a beautiful woman turns up in a car and a tool kit, and as he drinks further another woman appears to help fix the car, demonstrating the message of "Taste the possibilities".
The partnership with PlayStation gives consumers the chance to win five of the new PlayStation Vita consoles before they officially launch, through an online competition.
Zoe Howorth, market activation director for Coca-Cola GB, said: "[The campaign] signals the start of what is sure to be an exciting year for Coke Zero.
"The spot captures the essence of the brand as a beacon of possibilities, showing consumers that even the impossible can become a reality."
Follow Loulla-Mae Eleftheriou-Smith on Twitter @LoullaMae_ES