On June 12, 2014 Facebook announced it would be "making ads better by giving people more control" over what they see on their News Feed. The new targeted ads kicked off may false reports claiming Facebook was going to start sharing users' web browsing history with advertisers.
Facebook contends that it will not share your browsing history, even with its new targeted ads. Instead it uses people's "Likes" and info from websites and apps to push relevant ads to your News Feed. Users can now decide what ads they want to see and want to remove by using Facebook's ad preferences. You can learn more at Facebook.com/about/ads.
If you want to opt out of interest-based ads showing up on your News Feed just navigate to Settings > Privacy > Advertising on your iPad and iPhone, and tap the "Limit Ad Tracking" slider so it turns green.
You will also need to opt out of targeted ads on each individual computer and laptop you use to browse Facebook. To do this visit the Digital Advertising Alliance and use their form to opt out of targeted ads from any of the participating companies such as Facebook and Google.
Remember, this will not remove ads from your Facebook News Feed. It will only remove the creepy ads that seem to track your web browsing history.