The ad, by Microsoft's agency, Crispin, Porter & Bogusky, features the founder of the technology company meeting the comedian in a shoe shop.
But the ad has gone down like a lead balloon among bloggers and advertising commentators.
Computerworld blogger Preston Gralla asked: "Is Microsoft's Seinfeld spot the worst TV ad ever?"
He said: "If this is Microsoft's response to the 'I'm a Mac' ads, it should fold up its tent and tell the world to switch to Apple."
Abbey Klaasse, digital editor of Ad Age, was less harsh, but wrote: "You could be forgiven for not knowing what the heck Microsoft's new TV ad was about."
However, Adam Turner, writing on the Sydney Morning Herald blog said: "I love Microsoft bashing as much as anyone, but I think this ad is perfect."
Brad Brooks, corporate vice president for Windows consumer product marketing at Microsoft explained that the ad is just a teaser for a forthcoming campaign.
He said: "Microsoft really has a couple of goals with this campaign.
"Number one is to re-engage emotionally consumers around the brand Windows and actually create that emotional connection again, a connection that we've had and we want to have again."
What did you think of the ad? Are the bloggers just Microsoft-bashing? Comment below:
LONDON - Microsoft's latest US TV spot, starring Bill Gates and Jerry Seinfeld, has received a critical mauling across the blogosphere.