“Dancing with the Stars” Cubano cutie WILLIAM LEVY who mopped up the floort with the competition last night is more than over-exposed – he’s OUT in his undies.

Underwear modeling shots of the red-hot eartthrob – which were taken back in 2004 – flooded the Internet recently. They leave little to the imagination about Levy’s ripped physique…and other physical attributes.

In one sexy ad campaign, William is posing in N2N’s skimpy Classic Cotton Pouch Brief as he looks seductively at the camera. The company has congratulated the heartthrob for his appearance on “DWTS.”

While Levy’s been mum whether he posted the photos, industry insiders say that ABC most likely released them in an effort to boost ratings, which have been falling.

“It’s a very interesting coincidence that these photos should come out now,” a TV exec told The ENQUIRER.

“Outside of the Spanish-speaking community, Levy’s not exactly a household name and was a virtual unknown before the season began.”

An ABC honcho put it more bluntly: “Of course the producers knew the pictures existed! William is giving the show buzz.

"I guarantee you lots of people will be tuning in…to see one of the sexiest men in the world shimmy and shake.”