In the short video, titled 'Clean Getaways', which won A$7,000, the boyfriend says: "I'm here to take Jennifer's virginity out tonight."
Her father replies: "She can take a good pounding in any direction", before the daughter responds with: "I'm ready to blow."
It ends with the daughter's boyfriend telling the father: "I'll have her on her back by 11".
'Clean Getaways' won the judges' praise last week after winning the 'Clever Film Comp', launched by Toyota and Saatchi & Saatchi. "The top 10 entries were all great fun to watch," the judges said on the competition's Facebook site.
However, many Facebook members disagreed with the judges' comments and bombarded the Facebook page with complaints about the ad. Some users called it 'offensive' and 'degrading', while others said it had 'incestuous overtones'.
Toyota subsequently pulled the ad from its website but did not reveal how many complaints it had received.
Frazer Bailey of Brisbane's Play TV shot the ad after being sent the script by freelance creative Micha McDonald.
In a comment posted on Australian media and marketing site Mumbrella.com, McDonald, said: "Yeah - It's getting totally SLAMMED by everyone - But that's exactly what we wanted it to do. Basically we put a $60,000 production behind a 1 minute dodgy 'Dick Joke' that looks like an actual ad - and it WON. That's social media 4 ya - Gotta love it when the big boys get burnt!! If anyone is offended by this I'm truly sorry - and suck my dick."