The leading IT services company plans to take on 177 full-time workers and 15 business apprentices as part of a £12m investment over the next three years.
Fujitsu said it will create a new business services centre at its existing Timber Quay site.
The new positions include roles in administration, financial, procurement and human resources, as well as technical and software roles working with clients in the UK and Europe.
Recruitment is expected to start in the New Year.
Greg McDaid from Fujitsu said: "This Business Services Centre will now form an important part of our overall strategy to achieve business growth in this region and the choice of Timber Quay is a reflection on the highly skilled and motivated workforce as well as the excellent telecommunications infrastructure that we know exist here."
Fujitsu has had a presence in Northern Ireland for over 35 years, with bases in Belfast, Antrim and Derry, and this announcement brings their workforce to over 1,000.
It comes after First Minister Peter Robinson and deputy First Minister Martin McGuinness met with representatives from the company during their recent trade mission to Japan.
DUP leader Mr Robinson said: "The north west does deserve to have these jobs - there have been difficult times with unemployment here and it is not always easy to direct companies to where they should locate their business.
"But here we have the experience of a company that has already used the north west as a base and recognised the value of the personnel that are here."
Invest Northern Ireland has offered over £990,000 of support towards the new jobs, which will pay average salaries above the Private Sector Median.
Enterprise Minister Arlene Foster said: "Timber Quay was chosen by Fujitsu over a number of other European locations. The company's decision to create 192 new jobs is proof that events like G8 and the Investment Conference are delivering for the whole of NI."