The advert appeared in the New York Times in October, with the lawsuit claiming that it features "a smiling man who very closely resembles Pele".
It also includes a picture of a television showing a footballer performing a "scissors-kick, perfected and famously used by Pele".
The 75-year-old claims that the ad enriches Samsung while also infringing on his publicity rights and diluting his brand value.
"The goal is to obtain fair compensation for the unauthorised use of Pele's identity and to prevent future unauthorised uses," Pele's lawyer Frank Sperling said in a statement.
The two parties were reportedly in negotiations for an advertising campaign in 2013, only for Samsung to withdraw from the deal.
Take a look at the picture in question below: