Born in Milan, Ferri became the youngest ever principal dancer for The Royal Ballet at the age of 19.
The spot spot shows 52-year-old Ferri dancing with a hologram of her younger self, when she first performed as principal dancer for the Royal Ballet in a production of Romeo & Juliet.
The brand described the use of the hologram in this way as a "world first".
"Over the last few years, No7 advertising has dramatised the feeling women get when beauty really works," said Kristof Neirynck, global category director – skincare at Walgreens Boots Alliance.
"As the brand evolves from a British beauty icon to a global destination brand, we wanted to take that thought further – to demonstrate what women then go on to do when they feel fantastic."
Ferri commented: "I used to compare myself to my younger self, but now I don’t.
"I don’t compete. I live in the present. I’m proud of what I’ve done and who I was when I was younger, but I’m also proud of what I’m doing now and who I am now.
"I want my skin to have the same energy that I do, and No7 understands and celebrates that – they understand that I want to look and feel the best I can for who I am now."
The campaign broke at the weekend during Britain’s Got Talent, and will run for the rest of the month. The TV run will be supported by print, digital and PR activity.