'Tis the Reason' has been released on YouTube and will air this evening (1 December) during Gogglebox on Channel 4 and I'm a Celebrity Get Me Out Of Here on ITV.
Nine versions of the film have been created, with each humorously edited to show people unwrapping the supermarket's range of Christmas food.
Mel Matson, marketing director at Iceland, said the films were created after the supermarket noticed a rise in the popularity of footage showing families unwrapping presents.
The hero film (below) features a member of 'The Ingham Family', whose present-opening video from last Christmas has been viewed 40 million times on YouTube.
The campaign was produced for Iceland by creative agency Karmarama, while PR is handled by Weber Shandwick's Manchester office.
Matson said: "This Christmas we decided to go against the 'tear-jerking, blockbuster' grain with lots of 20-second ads that will hopefully make people feel jolly this Christmas.
"Of course we know that children wouldn't really wish for a Gilded Turkey or a Lobster Thermidor at Christmas, but we had great fun imagining how they would react to finding our award-winning food under the tree."
What did the PR Christmas panel think?
Nik Govier, co-founder of Unity, said: "I love this – it plays nicely into the parenting 'humblebrag', while making a feature of Iceland’s ‘better than you’d expect’ Christmas range. The ghost of Katona’s past has finally been put to rest."
Ranj George, UK head of consumer at Lewis, added: "This definitely feels more intriguing than previous Iceland ad iterations and seems to have successfully changed perceptions around the brand by harnessing social media and real life social situations we can all relate to."