The latest deal will see Mega Brands develop the Mega Bloks Halo Authentic Collector's series further in conjunction with 343 Industries, a division of Microsoft Games Studios.
The Mega Bloks Halo construction toy line brings to life the range of vehicles, characters and locations, targeting collectors and construction fans alike.
Vic Bertrand, chief innovation officer, Mega Brands, commented: "The Mega Bloks Halo Authentic Collector's Series is one of the toy industry's leading properties.
"Since 2009, our highly detailed, buildable world has captured the imaginations of millions of fans. We look forward to offering Halo enthusiasts more creative and immersive building experiences based on the ever expanding content of the Halo universe."
Frank O'Connor, franchise development director, 343 Industries, added: "It has always been and it continues to be a pleasure working with Mega Bloks on the expanded universe of Halo themed construction sets.
"Both 343 and Mega Bloks understand that the rich universe of Halo is not only a place to experience and explore, but a world of creation, immersion, building and direct interaction, both in game and out."