The 589 platforms, in six variants, will provide an essential capability to the Armored Cavalry under the Army 2020 program, the company said.
Financial details of the contract from Britain's Ministry of Defense were not disclosed.
General Dynamics UK, however, said it will also provide initial in-service support and training.
The vehicles will be built at General Dynamics' plant in Oakdale, Wales.
"We are delighted that the UK MOD has awarded us this important contract," said Kevin Connell, vice president of General Dynamics UK -- Land Systems. "SCOUT SV provides essential capability to the British Army to allow it to dominate the battle space for years to come and it secures thousands of jobs right across the UK for at least the next decade.
"General Dynamics UK and our partners have worked hard over the last four years to develop a world-leading vehicle, and we will maintain that same work ethic to deliver 589 SCOUT SV platforms to the British Army on-time and on-budget."