The advert, which features four people shooting at each other, was judged too violent for broadcast and to glamorise antisocial behaviour.
Complaints were received from two viewers, one that it was too violent and the other that it was broadcast before the 9pm deadline.
"The ASA noted that the shooting was almost continuous throughout the ad and considered that the violence, although computer-generated, was realistic in appearance," said the ASA in its ruling.
"We considered that the voice-over, which stated 'Honour is his code. Vengeance is his mission. Violence is his only option,' suggested that it was honourable to seek revenge and that violence was an acceptable solution to a situation.
"We considered that the ad was likely to be seen as encouraging and condoning violence. We considered that the only solution was to withdraw the ad from transmission completely."
Stranglehold is designed as a sequel to director John Woo's film Hard Boiled.
The game features Chow Yun Fat, in a reprisal of his role as Inspector 'Tequila' Yuen, fighting with Chinese mafia and Russian mobsters to save his family.
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