The ad, which appeared in page 13 of the Evening Standard in May, featured a large pullquote attributed to Jon Stewart, the presenter of US comedy chat show The Daily Show, which said: "So f**king good it makes me angry."
Two complaints were made to the Advertising Standards Authority about the ad: both said the ad was offensive and unsuitable for publication in a widely available newspaper, while one of the complaints said it was unsuitable for children to see.
When contacted by the ASA, the Evening Standard said they had not received any complaints about the ad and that their under-15 readership was so small it was not recorded.
They said the ad was light-hearted and humorous in tone, representing the musical it was promoting, and that the expletive was not used in a provocative or sexual manner.
In its ruling, published today, the ASA said: "We considered, in the context of the ad, the word [f**cking] did not have a sexual meaning, but emphasised the extent to which Jon Stewart enjoyed the musical, while reflect the adult content of the Book of Mormon and the language Jon Stewart used in his comedy."
It also rejected the complaint regarding unsuitability for children, noting that: "We considered that the newspaper in which the ad was published was unlikely to appeal to children and concluded that its placement was not irresponsible."