John Sisk & Son and Lagan Construction Group will enter into a joint venture to deliver the £40m contract.
The works are part of a £15bn investment by the Government in road improvements over the next six years.
Roads Minister Andrew Jones said: "The appointment of the contractors is a vital part of the delivery of improvements to the A19/A1058 Coast Road in North Tyneside. It will make journeys better for local people ensuring they have easy access to jobs, shops and leisure facilities nearby."
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Highways England assistant project manager, Darlene Procter, added: "This scheme will improve journey times on the A19 by reducing congestion and improving safety for the thousands of drivers that use this junction each day."
Highways England added the project will also improve safety for pedestrians and cyclists by providing two new shared use bridges over the A1058 slip roads.
Lagan Construction Group Operations Director, John Cunningham, said: "Lagan Construction Group is delighted to have been announced along with Sisk as the successful joint venture contractor for the A19/A1058 Coast Road junction improvement.
"We look forward to delivering a significant infrastructure project on behalf of Highways England."
(LM)
