The agency triumphed in a final pitch against the Japanese agency ADK, following a four-way process that also involved Red Cell in Germany and the UK incumbent BMP DDB.
McCann will create a television campaign to be aired in November and December. The majority of the spend will be in the UK and Germany.
Dave Ward, the marketing manager for Nikon in Europe, ran the pitch.
He said: "We are delighted to be able to work with McCann-Erickson on this project. We were looking for an agency that could be a strong strategic and creative partner. Over the two rounds of the pitch process, McCann has demonstrated that it fitted the bill."
David Boscawen, the McCann managing partner, said: "Nikon is a great brand and a great company for us to be working with. We are delighted to have the opportunity to work on this project."
Two weeks ago, McCann won the Switzerland-based Sauber Formula 1 motor-racing team's £15 million pan-European account.
Nikon recently appointed AKQA to work with BMP on a European product launch.