On Radiohead's blog, lead singer Thom Yorke announced that French director Clement Picon's video for 'Reckoner' will be the official video for the track, which will be used online and on television.
In March, animation website Aniboom teamed up with the band to host an online contest asking fans to create a video concept for any song off the new album in exchange for £5000 to produce a final version of the video.
Aniboom received over 1000 entries and asked fans to vote for their favourite video on the American television network Adult Swim and Myspace. Picon's video was hand selected by Radiohead from a final group of four.
The winning video and the three other finalists videos will premiere on Myspace Music over the coming weeks.
Thom Yorke said: "The Aniboom video competition, totally blown me away it has. We are proud that 'In Rainbows' songs were the source of inspiration for so many amazing creations."
The band has a reputation for their cutting-edge music videos, including their video for the song 'House of Cards' which was shot without use of cameras or lighting.
A fan-created video contest has also been used by bands like Nine Inch Nails and Bjork.
This week Radiohead was named the artist of the year at BT Digital Music Awards.