The 12-month extension to the existing contract will see the company providing support arrangements for the fleet until 2024.
With the extension, the total value of the contract has now increased to A$53m ($36.52m) from the earlier figure of A$44m ($30.32m).
The contract extension will also support 36 defence industry jobs in Queensland, the Australian Department of Defence (DoD) said.
Australia Defence Industry Minister Melissa Price said: “The extension of this support arrangement for the CH-47F Chinook fleet delivers more certainty for workers in Townsville, Oakey and Brisbane out to 30 August 2024.
“The Australian Chinook helicopter fleet provided outstanding support to operations in Afghanistan from 2006 to 2013 in the heavy-lift and troop transport roles.”
Boeing received the original contract in September 2018 to provide services for five years.
The contract extension has been awarded following a performance review, the DoD added.
The Boeing Chinook is the largest helicopter in the Australian Army’s fleet. It entered service with the Australian Defence Force in 1974.
The CH-47F is a multi-mission helicopter that provides advanced cargo-handling capabilities.
Used by the US Army and other international militaries, the helicopter features a fully integrated, digital cockpit management system and a common aviation architecture cockpit.
The 5.68m-tall heavy-lift transport aircraft has a fuel capacity of 3,914l and can attain a maximum speed of 302km/h.
In October last year, Boeing said: “In line with the government’s Australian Industry Capability Program, Boeing will consolidate all existing support services for the Australian Army’s CH-47F Chinook fleet into a new through life support contract to be conducted in-country.”