The fire broke out on Thursday, leaving one firefighter injured, Xinhua news agency quoted the report as saying.
More than 400 firefighters with 45 fire engines rushed to the scene to battle the flames. There was no one in the warehouse when the fire broke out, eyewitnesses said.
The Coca Cola warehouse, storing raw materials such as plastic pellets used in making the soft drink bottles is located in the industrial zone in Yangon's Mingaladon township.
Coca Cola re-entered Myanmar after more than six decades and opened its bottling plant in Yangon in June 2013.