Virtual advertising is a new technique that has high expectation and attention because of its ability to reduce audiences’ reaction such as zipping and zapping which has been shown in other types of techniques of advertising. Virtual advertising has been legally permitted to be used in Korea last year, but its academic research is very limited in complete state. In this sense, the current study investigates the effect of virtual advertising to improve the advertising industry by introducing a series of new advertising techniques. The purpose of this study is to explore how audiences perceive the effects of virtual advertising using eye-tracking method and survey. Six TV advertisements were used as the stimuli, and 53 audiences participated in the study. Respondents perceived virtual advertising was effective in enhancing brand attitude caused by novelty and attractiveness. However, it turned out that it was not effective in delivering informative advertising message in detail because audience was concentrated on the sport game. This study further suggests that securing a air time, emphasizing on mutual communication, developing creative about virtual advertising and easing advertising regulation systems, should be determined according to invigorations of virtual advertising in Korea.