The three leaders outlined the deal in a three-way virtual announcement from each of their capitals.
"We all recognize the imperative of ensuring peace and stability in the Indo-Pacific for the long term," said Biden.
Morrison said the submarines would be built in Adelaide in close cooperation with the United States and United Kingdom. Australia will not be fielding nuclear weapons, Morrison said, adding, "We will continue to meet all our nuclear non-proliferation obligations."
Johnson called it a momentous decision for Australia to acquire the technology. He said it would make the world safer.
"This will be one of the most complex and technically demanding projects in the world," he said.