The City of London Corporation has appointed FM Conway, in partnership with Taziker and Alltask, as contractors for the project.
Blackfriars Bridge is owned by Bridge House Estates and is one of five bridges managed by the City of London Corporation.
"Blackfriars Bridge was last painted in 2000 and is starting to show signs of wear, including some ageing parapets and rust staining," said Giles Shilson, chairman of the City of London Corporation's Bridge House Estates Board.
"The repaint and refurbishment of this important bridge will greatly improve its aesthetics and will also protect the fabric of the structure to increase its longevity.
"We welcome today's appointment of contractors FM Conway and their partners and we will work closely with them to ensure Blackfriars Bridge continues to serve Londoners for many years to come."