The clip opens with Spears standing in front of a mirror bearing the number 7 in reference to her albums to date.
She then walks through a club surrounded by dancers as a medley of tracks by artists including herself and Madonna plays in the background. Phrases including 'Like A Virgin' in reference to Madonna and 'Billy Jean' in reference to Michael Jackson are scrawled on the walls of the club.
There are also nods to some of Spears's best-known music video performances and costumes including her 'Baby One More Time' and 'I'm A Slave 4 U' looks.
Watch Britney Spears's MTV VMAs promo below:
The teaser trailer, which premiered during Thursday night's episode of Jersey Shore, ends with a hint that viewers will see a tribute to Spears at the awards show.
Speaking to MTV News, the video's director Jahai Brightly said: "The general concept of what we are going for is basically called 'The Muse Factory. It's where all your favourite artists that are going to be at the Video Music Awards this year meet and explore their influences and inspirations."
Spears has been nominated in the 'Best Pop Video' and 'Best Choreography' categories for her single 'Till The World Ends'.
"I grew up listening to MTV. It's just such an iconic thing to be able to participate in," she said last month. "To even be presented with an award is just so flattering and I'm honoured. I'm excited. You never get used to being nominated!"
MTV has already announced that Bruno Mars, Lil Wayne and Chris Brown will all perform at the ceremony, while presenters will include Jonah Hill, Rick Ross, Selena Gomez, Seth Rogen and Kim Kardashian.
The MTV Video Music Awards air live from the Nokia Theater in Los Angeles on Sunday, August 28.
> MTV VMA 2011 - Nominees in full
> MTV VMA 2011 nominations: Who missed out?