Wetherspoon said that it will invest the money developing new pubs and hotels as well as enlarging its existing pubs across the UK and Republic of Ireland.
It said that most of the investment would be channelled into developments in small and medium sized towns, but would also include some larger towns and cities.
Bourne, Waterford, Hamilton, Ely, Diss, Felixstowe, Newport Pagnell and Prestatyn are all to get new Wetherspoon pubs. The company will also be investing in London, Dublin, Edinburgh, Glasgow, Birmingham, Leeds and Galway, it said.
Wetherspoon founder and chairman Tim Martin said: "We are looking forward to opening many more new pubs as well as investing in existing pubs over the next four years. We are especially pleased that a large proportion of the investment will be in smaller towns and cities which have seen a decline in investment in recent years. The fact that we will be creating approximately 10,000 jobs is great news too."
Wetherspoon currently operates 875 pubs and 58 hotels across the UK and Republic of Ireland and employs 44,000 staff.