The actress and presenter will take the part of Penelope Belcher, the "irritating nouveau-riche" sister of Ripley’s character, in a role Holden herself has described as in the mould of Hyacinth Bucket from the 1990s BBC series 'Keeping Up Appearances'.
In the spot Holden's character insists that her surname is pronounced Bel-Chere, just as Hyacinth insisted on her surname being pronounced Bouquet.
The 50-second spot breaks today (Monday) on national television including ITV1, Channel 4, Channel 5 and Sky1.
Set in a Tesco store, the advert features the down-to-earth Tesco couple browsing the Christmas gift aisle.
When called by the couple about presents for her family, Holden reels off a series of expensive- sounding gift items, which they snap up at realistic Tesco prices.
This is the third time Addy and Ripley have been part of the Tesco Christmas campaign since their characters were introduced in 2007.
Holden, who takes the role of Princess Fiona in the West End production of 'Shrek' next year, is a new addition to Tesco promotion. She has been a regular on television screens as part of her judging role on 'Britain's Got Talent' and acting roles in ITV1 series 'Wild At Heart' and BBC1's 'Cutting It'.
Carolyn Bradley, marketing director at Tesco UK, said: "Amanda brings sparkle and humour to our Christmas campaign, playing the part of Fay’s over-the-top sister perfectly with her tongue firmly planted in her cheek."
Karen Buchanan, managing director of The Red Brick Road, said: "Tesco's aim is to give customers the easiest and best value Christmas ever. The campaign reassures consumers that Tesco is the top destination shop for toys and gifts."
Media planning and buying for the campaign was handled by Initiative.
The spot breaks at 7.15pm tonight on ITV1 in the ad break for 'Emmerdale'.
Tesco will be looking to beat last Christmas's sales figures, which, like-for-like, were up by 4.9% – the biggest boost for the supermarket in three years.