The contract is due to begin on 1 September, which enables Balfour Beatty to start pre-site work this autumn.
The development takes full advantage of the river frontage while creating strong links to the traditional shopping areas.
Councillor Eveleigh Moore Dutton, Executive Member for Resources, said: "The appointment of Balfour Beatty followed a rigorous selection procedure and I am delighted to welcome them on board. The company has a strong track record in delivering projects of this nature.
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"This is a key milestone in the delivery of a major development project that will create jobs, vibrancy and prosperity, and ultimately transform Northwich into one of the North West's busiest market towns.
"We are committed to working with the companies to ensure as many of the jobs as possible go to local people, building on the success of Waitrose where 85 percent of the jobs were won by local people - 50 percent of whom were previously unemployed."
The first sequence of Barons Quay is due to be complete by autumn 2016.
It will incorporate an Odeon cinema, restaurants, Asda supermarket, public realm, car parking, and shops beneath the car park and surrounding the new square on Leicester Street.
(CD/IT)
