Balfour Beatty Civil Engineering has been awarded an £11.6M contract to upgrade junction 12 of the M40 in Warwickshire.
The scheme near Gaydon will begin on site in March.
The project aims to cut queuing, boost safety and unlock potential economic growth in the area.
The upgrade work is expected to be completed by summer 2016.
Balfour Beatty managing director for Thames Valley Jonathan Winter said: “We are delighted to have been awarded this contract.
“Balfour Beatty has a strong track record of delivering major road schemes, both nationally and in the region, on time and to budget.”
Highways Agency project manager Shah Hussain said: “We’ve worked hard with Warwickshire County Council to create complementary schemes to really cut congestion and improve journeys on this busy stretch of the M40.
“Our work will stop drivers queuing on the hard shoulder – which creates an unsafe environment – and will boost the capacity of the junction to cope with growth in the foreseeable future.”