The tool is designed to let people review businesses that they've made a purchase from, Facebook said in a blog post on Wednesday.
"We spoke with people who have purchased things from Facebook advertisers, and the two biggest frustrations we heard were that people don't like ads that quote inaccurate shipping times or misrepresent products," the company said.
To find the tool, go to "Ads Activity" tab where you can view ads you've recently clicked, and hit the "Leave Feedback" button.
"This will prompt you to complete a brief questionnaire to tell us about your experience. We'll use this tool to get feedback from the community to help better understand potentially low-quality goods or services," Facebook said.
Facebook will then warn businesses that receive high volumes of negative feedback and give them a chance to improve before taking further action.
"If feedback does not improve over time, we will reduce the number of ads that particular business can run. This can continue to the point of banning the advertiser," the social media giant added.