This research develops a model for selecting product placement marketing project of commercial TV stations based on advertiser‘s perception. The proposed model includes two parts, the first part adopts the ―Modified Delphi Method‖ to find out suitable criteria to evaluative product placement marketing project. The second part applies the ―Analytic Hierarchy Process (AHP)‖ to determine the relative weights of evaluative criteria, then ranks the alternatives and selects the optimum project of product placement. Additionally, take a famous Taiwanese bio-technology company for example, to prove how a product placements project is selected by applying this model. The results indicated that advertisers think highly of criteria in order are production team of placement, mode of product placement, execution of placement service, organization of TV station, etc. The proposed model helps advertisers to effectively select product placement marketing project of commercial TV stations, making it highly applicable for academia and commerce.