The Japan Tuna Co-operative Association and the Tanzania Deep Sea Fishing Authority have signed a one-year deep sea fishing agreement in Dar-es-Salaam.
The agreement will allow the Japanese to deploy 30 tuna boats in deep waters.
The Japanese Association will pay US$200 million in fees to the Tanzania government.
The agreement has come at a time when Tanzania faces serious piracy in its waters, an estimated 250 foreign vessels are said to be involved in illegal fishing in Tanzanian waters.
Tanzania's Livestock Development and Fisheries Minister, Mr John Magufuli, said that the agreement signaled the government's commitment to ensure that fishermen followed the law when fishing in the country's territorial waters.
Tanzania is a member of the 14-state Southern Africa Development Community (SADC) and is cooperating with other countries in the region to fight illegal fishing.
This is the first time that an agreement like this has been signed since 2007.
Raphael Mweninguwe