Saab said the order is the result of a standing offer signed last year and worth about $29.6 million.
"This shows the high level of trust Australia have for the Carl-Gustaf system," said Tomas Samuelsson, head of Saab's Dynamics business area. "We are very proud of the confidence our customers place in the Carl-Gustaf system and satisfied to have been able to secure an additional order for the system."
The Carl-Gustaf, with two men manning it, can fire about six rounds a minute. In addition to anti-armor rounds, other ammunition for the system includes illumination rounds and rocket-assisted rounds for greater distance.
Saab said more than 40 countries have its recoilless rifles in their inventories.
The ammunition ordered will be delivered next year.