The commercial features Del Rey singing 'Blue Velvet' in a promo that evokes David Lynch's 1986 film of the same name.
Del Rey is the face of H&M Fall Fashion collection for autumn 2012, which can be seen in full on the H&M website.
In July, Del Rey was confirmed as the new star for the brand, who called her a "modern feminine woman with a soft attitude" who has quickly become "a style icon".
She had previously been seen shooting the commercial for the campaign a month earlier.
'Blackfire', a new song by Del Rey, was leaked online earlier this week.
Watch the Lana Del Rey H&M commercial below: