The Advertising Standards Authority (ASA) ruled that the ad, featuring various scenes of the the pop star lying naked, touching her breast and dancing seductively in a revealing dress, was too "sexually provocative" to be shown before 7.30pm.
The ASA received 14 complaints that the ad was offensive and unsuitable for broadcast when children might be watching.
Defending the ad, perfume company Coty said it was not overtly graphic or explicitly sexual, adding that Beyonce was not naked at any point.
The ad was aimed at a young adult audience and was consistent with, if not less graphic, than many music videos, the company said.
Clearcast, which approves ads before screening, said it had restricted the ad from being shown during or around programmes aimed specifically at young children.
The ASA rejected complaints that the ad was offensive, saying it did not include any explicit sexual content or images of the singer completely naked.
However, it noted several complaints that children had seen the ad during the middle of the day around family programmes.
The ASA said: "Although we considered that the ad was unlikely to be harmful to adults or older children, we considered that Beyonce's body movements and the camera's prolonged focus on shots of her dress slipping away to partially expose her breasts created a sexually provocative ad that was unsuitable to be seen by young children.
"We considered that the ad should not have been shown before 19.30 due to the sexually provocative nature of the imagery."
It ruled that the ad must not be broadcast again in its current form before 7.30pm.
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