Under the terms of the deal, Mattel will be granted "unprecedented access" to DC's archive of characters and produce a line of products to tie in with next summer's Green Lantern movie.
"The sheer volume of the DC Comics property portfolio lends itself to an incredible array of consumer offerings," Brad Globe, president of Warner Bros Consumer Products commented.
"As master licensee, Mattel has consistently created innovative products that are true to the spirit of the DC Comics heroes and villains from which they are inspired. We look forward to seeing the results of the next wave of property collaborations."
Mattel has already announced a range of merchandise to support the release of Green Lantern, including action figures, vehicles, playsets, games, puzzles and commemorative rings. The range will also include more products based on DC's animated series Young Justice and Batman: The Brave And The Bold.