It will be the first time the engineering giant has made engines for the Gulf carrier’s super-jumbo fleet.
The news boosted Rolls-Royce’s share price after a year of profit warnings.
Emirates said the deal gave further support to trade ties between the UK and the United Arab Emirates and would have a “significant economic impact”.
Announcing the deal in London, Emirates president Sir Tim Clark said: “Today’s announcement is significant not only because it cements the partnership between Emirates and Rolls-Royce, but also because of the significant economic impact that this will have on aviation manufacturing in the UK and Europe.”
Rolls Royce currently employs 24,500 people in the UK. No new jobs will be created as a result of this deal.
Final assembly of the engines will take place in Singapore.