It was appointed following a pitch against W&K to work on a pan-European project, understood to be focused on Nike-sponsored athletes.
The campaign will run on TV and possibly press and outdoor this summer.
Paul Shearer, a founding partner of Nitrosoul, led the pitch. He was the creative director on Nike when he worked at W&K Amsterdam two years ago.
Shearer said: "We are delighted to be working with Nike and being able to deliver the kind of creativity a brand such as Nike expects."
Nitrosoul's appointment is its first new-business win since the agency was created last month. Nitro handles global assignments for Unilever and Mars. Soul's £12 million in billings includes Fanta.