The joint promotion will run exclusively this month in Sainsbury's, pairing an Old El Paso Fajita Dinner Kit with a 1.25l bottle of Coca-Cola, Diet Coke or Coca-Cola Zero for £3.
The initiative will be supported by cross-category merchandising and a national press campaign.
It is part of Coca-Cola's "with food" push and follows initiatives such as 'Saturday night tastes better with Coca-Cola and ITV' and 'Lunch tastes better with Coca-Cola', which ran in the spring. "MyCoke and Old El Paso have similar attributes based around sharing social occasions at home," said Selena Taylor, CCE trade communications manager.
Andy Foweather, sales director for Old El Paso, said the General Mills brand was "really excited" about the new deal.
The MyCoke brand stable of the three variants have seen sales grow 7.3% to £1bn over the past year, while Old El Paso is up 10.2% to £75m.