The new deal will see Jakks Pacific distribute and market a range of toys and products based on the 3D action comedy film, Men in Black 3, which will star Will Smith and Tommy Lee Jones.
The agreement covers a wide range of categories including action figures, accessories, play-sets, role-play, youth electronics, novelties, games and puzzles, Halloween costumes and more.
Jakks hopes to launch the products in spring 2012, to coincide with the release of the film on May 25th 2012.
Jeremy Padawer, executive vice president of marketing, Jakks, commented: "We are pleased to be a part of the hugely successful Men In Black franchise and to bring to life the adventures of the famous, alien-fighting government duo in the third installment.
"We are looking forward to launching a line of products that incorporate classic spy play patterns with that extra added alien 'wow' factor, complementing the film's fun, high tech and action-packed themes to entertain families long after they leave the theatre."
Mark Caplan, VP consumer products, Sony Pictures Entertainment, added: "We are plased to work with Jakks Pacific on Men in Black and tap into their expertise in creating a comprehensive toy merchandising programme that epitomises the essence of a property.
"We are excited to offer a line of products that will spark the imaginations and give our worldwide fans even more of their favourite agents Jay and Kay while bringing to life their own Men in Black experiences at home."