The budget carrier will station five aircraft at BHX this winter in total, including two brand new Boeing 737 8-200.
This will allow it to launch new routes to Billund, Grenoble, Santander, Stockholm and Toulouse, expanding its route network at the airport to 34.
Ryanair said the decision, which coincides with the 35th anniversary of it launching operations at Birmingham, would directly support 150 new aviation roles and a further 1,850 indirect roles locally.
Promotional fares, available until 1 July, lead in from £19.99pp for flights departing from October 2022 to March 2023.
The launch came with a fresh plea to government to lower airport charges and "support airlines" by scrapping Air Passenger Duty or risk stymying the UK aviation sector’s recovery from the pandemic.
Ray Kelliher, Ryanair director of route development, said: "Lower aviation taxes and competitive airport charges provide the foundation for which Ryanair can deliver long-term traffic growth and increased connectivity.
"At a time when other airlines across the UK are cancelling flights and reducing their schedules, we’re delighted to make this $100 million further investment in Birmingham largely thanks to the hard work and support of the airport.
"If the UK government wants to see more investments from Ryanair and other airlines next summer, they must scrap the APD tax for all flights or otherwise put the UK – an island-based economy – at risk of losing air traffic to competing European countries."
Nick Barton, Birmingham airport chief executive, added: “We are thrilled Ryanair is adding to its BHX-based fleet of aircraft as we toast 35 years of its operation here. This long-term move will give customers greater choice and boost economic growth in our region.”