The contract hands the rights to the Games to a consortium of commercial terrestrial broadcasters led by NHK.
The Japan consortium has a long-term deal in place with the IOC handing it the rights to broadcast five Summer and Winter Olympics, from the 2000 Sydney Games to the 2008 Games in Beijing.
For the first time in any Summer Olympic Games, NHK and four other overseas broadcasters will produce eight events, including swimming and track-and-field, in high-definition format.
NHK will air the 2004 Olympics next August via high-definition broadcast with a full variety of digital data services.
The announcement of the lucrative TV deal in Japan comes only a month after the IOC concluded a $2billion renewal deal with NBC for the US TV rights to the 2010 and 2012 Games.
The International Olympic Committee (IOC) has signed off on a $155million TV rights deal in Japan for the Athens 2004 Games.
