The campaign, created by Drum PHD, represents the first use of advertiser-funded programming to communicate a public service message.
Produced by Chrysalis TV and fronted by former Blue Peter presenter Janet Ellis, the series, called Lifeblood, will air during Five's morning schedule.
It documents the workings of a blood donation unit and features interviews with donors and video diaries of people whose lives have been saved by blood donations.
Lifeblood will be supplemented with a series of two-minute shorts with a sports theme. Called Extra Time and produced by Enteraction TV, they will air across Five's sports output.
Drum PHD account director Mark Eaves said: "There has been lots of talk about the future of funded programming content, but it's all been about commercial brands. This is an exciting template for public sector campaigns."