The embodiments herein provide a system and method for monitoring and detecting Television (TV) ads in real-time using content databases. The method comprises an ingest process and a lookup process. An audio stream of an ad is chopped into predetermined timeframe samples. The chopped samples are stored in an ingest database. A TV broadcast stream of predefined length is chopped into samples which are compared with the ingest database. When the threshold value of a candidate is more than an average value, the candidate is shortlisted for further filtrations. Then the TV broadcast stream is compared with contents of an additional database. The additional database stores the whole length of an ingested ad without any chopping. A shifted search is performed on short listed candidates to detect the version of the ad played in the TV channel.