The wealth management giant said the contract covered fully outsourced managed infrastructure services for mainframe, midrange, network, desktop and service desk, as well as information and system security.
There is also understood to be provisions in the contract for up to an additional $150 million for "additional projects, work orders and other non-infrastructure services".
AMP has been working with CSC since 1993, making it "one of the longest running strategic IT outsourcing relationships in Australia", according to CSC Australia president Nick Wilkinson.
"Our long-standing relationship has set a benchmark not only for CSC but the outsourcing industry in Australia as a whole," he said.