The 30-second spot, which was created by BBDO, features a montage of great moments from each sportsman's career.
It then shows each athlete shaving with a Gillette Fusion Power razor, before introducing the line "Prepare to be your best today". The campaign includes a dedicated website with additional content featuring all three sport stars.
View the ad here.
Gillette said the international campaign, called "Gillette champions", marks its biggest flurry of marketing activity in its 108-year old history.
The ad breaks in the UK tonight on Channel 4, E4, ITV2, Sky Sports 1 and Sky One, with heavy rotation around sports programming.
The campaign comes six months after Beckham, now appearing as the face of Motorola Razor mobile phone, reportedly turned down Gillette's offer of a new £3m contract, with negotiations stumbling on the footballer's insistence on a profit share agreement instead of a flat fee.
Beckham was signed up by Gillette in 2004 on a three-year deal and subsequently featured in TV ads for its M3Power and Fusion razor brands.
The company signed Woods, Henry and Federer in 2006 on two-year deals as part of an attempt to sign up a broader range of different sports stars to give the brand wider exposure.
Nathan Homer, Gillette brand manager, said: "They were chosen for both their outstanding sporting performances and also their performances off the field, in their charitable actions, support of social causes and for their reputations as icons of true sporting values."