The artists involved come from a variety of disciplines including painting, sculpture, film and digital art.
They will create films, print and outdoor ads, consumer events and digital work for mobile phones for the campaign, which goes under the name Absolut Blank.
It will be launched in the UK on July 20, with TV ads on ITV, Sky, Channel 4. More 4, Film 4 and E4.
There will also be outdoor ads across the UK.
Adam Boita, marketing manager at Pernod Ricard UK, said: “Absolut has made its iconic bottle into a blank canvas to inspire artists throughout the world to collaborate and fill it with creativity.
“The result depicts how artists are creatively inspired through Absolut.”
Behind-the-scenes footage will appear on the brand’s Facebook page.
“We want to continue the conversation with our consumers online and ensure they can interact and get involved with the campaign,” said Boita.
“Twitter and Facebook provide the perfect platform for this, allowing us to extend the reach of the global campaign on a local basis.”