The contract covers more than 300 ad panels on bus shelters and free standing units across the city. Clear Channel has held the contract in Dundee for more than 20 years.
The announcement follows Clear Channel's premium street furniture contract win in Glasgow and adds to its existing contracts with Aberdeen and Edinburgh.
More than 300,000 people live within a 30-minute drive of the city centre, with more than 600,000 living within an hour's commuting distance.