The soap has partnered with the coffee brand and convenience store chain to display their storefronts, posters, bags and cups on-screen as its set expands.
The "innovative" product placement deal with ITV will also allow both brands to use Coronation Street branding off-air.
Eric Tavoukdjian, commercial marketing director for Costa Coffee UK and Ireland, said: "Costa Coffee is delighted to be welcomed to the famous cobbles of Coronation Street as part of this innovative partnership with ITV.
"As the nation's favourite coffee shop and a presence on the UK high street for more than 40 years, we feel it's perfect to have a presence on one of the nation's favourite and most iconic soaps."
Alison Jones, customer director at Co-op, said: "Coronation Street is all about community life and the Co-op is a retailer at the heart of local life and being close to the customer, which makes this a perfect match."
ITV landed the UK's first ever product placement agreement in 2011, which saw coffee brand Dolce Gusto feature on ITV1's This Morning.
It followed new rules by broadcast regulator Ofcom to allow brands and products to be featured on TV shows.
The X Factor, I'm a Celebrity...Get Me Out Of Here and Channel 4's Made In Chelsea are among shows which have since adopted the practice.
Mark Trinder, sales director at ITV, said the broadcaster was "delighted" with the opportunity.
"The expansion of the Coronation Street set has given us a great opportunity to feature branded shop facades as more of Weatherfield is opened up to viewers.
"We've worked really closely with the Coronation Street team to make sure we've got a great brand fit for Co-op and Costa Coffee... while still ensuring editorial integrity," he said.