Wearing nothing more than a pair of high heels, the socialite - described by the magazine as 'The Diamond Heiress' - lays upon a version of Playboy's bunny logo made out of precious stones.
Ecclestone also appears in various states of undress in an eight-page pictorial featured in Playboy's latest issue.
"I am so proud of this beautiful shoot," she said. "As a woman, I believe you have to embrace your body, and feel beautiful both inside and out.
"Playboy is so iconic, and for nearly 60 years, the magazine has featured some of the world's most beautiful women in its pages.
"I am extremely honoured to be part of this legacy as the magazine's May cover girl."
A teaser of the shoot in which Ecclestone shows off her buttocks was unveiled on Instagram back in March.
The new issue of Playboy is available on Friday (April 19).
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