The Latin American specialist originally announced in 2015 a $3.5 billion deal for 22 Boeing 787-9s to be delivered by 2022.
However, following a rethink the order has now been increased to 27 of the aircraft within the same period.
A total of eight of the aircraft have been delivered in the first phase of the order with the second phase seeing another two delivered in February 2018.
Phase two will then see a further five delivered between April and December next year.
The final 12 will be introduced progressively between 2020 and 2022.
Air Europa UK director Colin Stewart said: “The success of Air Europa’s ambitious fleet expansion and rejuvenation programme using the Dreamliner aircraft speaks for itself.
"The aircraft is incredibly popular with our passengers thanks to its many on-board features, as well as offering superior performance and being more environmentally friendly than older aircraft.
"To add to an aircraft order of these already substantial size is indicative of the growing profile and strong position of Air Europa in international aviation.”
Since acquiring its first Dreamliner in 2016 and the airline has carried more than 2.5 million passengers in its Dreamliner fleet.
The airline company currently operates regularly with Dreamliners to Miami, Bogota, Santo Domingo, Lima, Tel Aviv, Sao Paulo and Buenos Aires from its hub in Madrid.