The centre, part of a £170 million (€213m) expansion plan, will be located in Craigavon – which is now the European headquarters of its parent company Marfrig.
The expansion of the business will include additional processing lines to enable the company to achieve its objective of significant growth in the sale of poultry products and convenience meals throughout Europe, by 2018, it said.
The 628 new jobs will be created across the company’s three plants at Craigavon, Ballymena and Dungannon and will include 70 at the Innovation Centre.
Marfrig also plans to set up a new financial services centre at Craigavon for its European operations.
Sergio Rial, chief executive officer of Marfrig Global Foods, said: "We are committed to growing our operations in Northern Ireland and this investment, with support from Invest Northern Ireland, helps us to achieve that.
"We have had ongoing, positive engagement with the Northern Ireland Executive and have experienced a very pro-business attitude."
Janet McCollum, chief executive at Moy Park, added: "Moy Park started as a small farming company in 1943 and has grown into a top UK business with a £1.5bn turnover. We continue to have big ambitions and this investment will allow us to further grow our operations and create new jobs in Northern Ireland."
Moy Park, acquired by Marfrig in 2008, currently employs more than 3,000 people in Northern Ireland and a similar number at plants in England and France.