It's a blend of crushed leaves, black pepper, chilled grapefruit, rhubarb, lavender, spearmint, bamboo, driftwood and oak moss, the company said.
Jeter was involved throughout the development process, and he's the face of the fragrance in print ads.
"I knew what I wanted. I didn't want it to overtake a room," Jeter, 32, told The Associated Press in an interview Tuesday. "I wanted it to be clean and sophisticated."
He's always worn cologne, Jeter said, but now he only wears Driven. (Avon representatives said they've already sent him several extra bottles.)
Jeter wore a gray plaid suit for the launch event at Lever House, a chic Manhattan restaurant favored by the beauty and fashion industry.
The Yankees have a lot of rules about dressing up and being clean-cut, so he's used to putting thought into his appearance, he said.
Driven will be available in November, at a cost of $25 per bottle. It is the first in a series of men's grooming products with Jeter's name.
"We are thrilled to be partnering with Derek Jeter — a man whose career and community accomplishments make him an outstanding fit for the brand," said Liz Smith, executive vice president and president, North America and global marketing for Avon Products, in a statement. "This partnership will truly take our men's business to the next level."