Carat International won the business after going up against MediaCom and incumbents Starcom Motive and Mediaplus. It will look after the remaining 16 markets, including the UK, which is worth £7m alone.
Ireland, Denmark, Norway, Sweden, France, Spain, Italy, Portugal, Russia, the Czech Republic, Poland, Hungary, Belgium and the Netherlands are also included.
The Lego Company's ongoing media partner in Germany, Mediaplus, will look after media planning and buying in Germany, Austria and Switzerland.
Ulrik Gernow, vice-president of marketing at Lego, said: "Our aim was to improve our media buying and effectiveness across Europe by reducing the number of agencies in Europe."
Incumbent Starcom Motive, which pulled out of the pitch in September, previously held the account in eight European markets.
Lego's newly appointed global marketer, Mads Nipper, who recently axed three marketing divisions, oversaw the review of the Danish toy giant, which includes work on Lego play materials and Legoland parks.
The appointment follows a difficult time for the toy manufacturer after it reported annual losses last year of £127m.
It also confirmed that it was to axe 600 jobs earlier this year, as part of a restructure of the business. Lego has blamed its poor showing on an over-reliance on licences and not concentrating enough on its core building-brick product.
"We strongly believe that we would benefit from a more consistent implementation of central media guidelines across the European markets," Gernow said.
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