Arena won the account following a closed pitch against the incumbent Mindshare.
HomeSense is a TK Maxx brand and was part of Mindshare's consolidation of the TK Maxx account in 2009.
As part of Arena's new appointment, the agency will focus on seasonal launches for HomeSense and maximising footfall over key retail periods.
Laura Braithwaite, client services director at Arena Media, said: "We're excited to be working with a brand that has real ambition for the future and look forward to unlocking new media opportunities with them."
HomeSense was launched in the UK in Poole, Dorset in 2008,and claims to offer "quality homeware from all over the world at up to 60% off the RRP". The company has 24 stores in the UK.
The win helps expand Arena Media's retail credentials following its recent Sports Direct win.
Arena Media also recently won the £2m media business for the Polish tourism board.