The promotion will run across 17 European countries from May until the end of August. Millions of songs will be given away through over two billion promotional packs of Coca-Cola, Diet Coke and Coke Zero.
The on-pack promotion will also offer customers the chance to win free iPods and attend some of the 100-plus Coke and iTunes sponsored summer concerts across Europe.
The promotion will be launched at the Cannes Film Festival with a special live performance from Faithless.
"Coca-Cola has a long and rich heritage in music, from memorable advertising tracks to grassroots support to big live events. In summer 2006 we started an innovative new partnership with iTunes," said Chris Burggraeve, group marketing director for the European Union Group.
"iTunes is the world's most popular online music store selling 58 songs every second at a rate of five million tracks a day," said Eddy Cue, Apple's vice president of iTunes. "We've already had great success working with Coca-Cola over the past year and this new pan-European initiative gives music fans across Europe the ability to download free music all summer long."
The Coke and iTunes summer concerts will see big name headline acts playing with newer acts from Coca-Cola's grassroots programme that allows undiscovered artists to upload their music on Coke's website. All concerts will be recorded and made available as downloads and podcasts exclusively on iTunes.
Previous co-branded concerts have included Elisa (Italy), The Fratellis (Denmark), The Rapture (Ireland) and Deichkind (Germany). The 17 countries where the concerts will take place are: Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, and the UK.