iPad, iPhone and iPod Touch users will be able to access live streams of ITV1 and ITV2 over WiFi and 3G networks, just in time for coverage of the Euro 2012 tournament.
Selected programmes from digital channels ITV3 and ITV4 will also be made available as live streams on the app, such as Tour de France.
Other features in Version 2.0 of the app include AirPlay Mirroring support for viewers to use their device to watch ITV content on a larger screen via Apple TV or a HDMI connection. This is only available on the iPhone 4S, iPad 2 and the new iPad.
The app also makes it easier to switch between the live channels and catch-up content.
"Following the launch of the ITV Player on Apple devices in June last year, we have seen a massive demand for the product with over 4 million downloads to date," said James Micklethwait, the director of ITV Player.
"We are therefore really excited to be releasing this updated version with an array of new features offering an even better user experience.
"We are especially pleased to be launching live streaming within the app ensuring our football fans can enjoy all this summer's ITV Euro 2012 action on the move."
Version 2.0 of the ITV Player app is available now to download from the iTunes app store on iPhone, iPad and iPod Touch devices.
Watch a commercial for ITV Player below: