Executives on the boards of SSF's Norwegian owners - salmon farmer SalMar and seafood exporter Leroy - are understood to have signed off on the investment.
Work on upgrading and expanding sites is expected to take place during the next two years.
The bulk of the money will be spent over the next two years, subject to planning permission being achieved, and the new roles are to be around rural areas in Dumfries, Orkney and the Highlands.
SSF, which employs 380 in Scotland and counts Marks & Spencer among its customers, hopes to use local contractors to carry out construction and associated work.
The investment plans will see SSF spend £12m on freshwater operations, where nurseries of small salmon are bred, and a further £25m on new salmon farming sites.
Leif Inge Nordhammer, chairman of Scottish Sea Farms, said: "The owners and Board of Scottish Sea Farms are committed to growing our production in a sustainable way to satisfy the demands for Scottish salmon in markets around the world and to support the communities where we operate."
SSF last year spent £1.3m on upgrading and expanding its freshwater hatchery at Holywood near Dumfries in order to give newly hatched fish a higher rate of survival and health as well as reduce energy costs.
A further investment of £1.5m will involve putting in more freshwater tanks.
SSF has also recently announced £2m plans for a new site at Loch Kishorn, a sea-loch in the north-west Highlands.
The announcement of the £37m investment programme came after Paul Wheelhouse, minister for environment and climate change, visited SalMar's farming and processing operations on the Norwegian island of Froya.
Mr Wheelhouse said: "The announcement of this investment in infrastructure and expansion over the next two years is great news for the future of the aquaculture industry in Scotland and for our economy."
The value of exports of Scottish salmon increased 13% in the first five months of this year to £150m, up from £132m during the same period of 2012. In the US, the largest market for the fish, sales grew from £69m to £74m.
SSF was founded in 1973 and has been owned by SalMar and Leroy since 2001.
It produces around 25,000 tonnes of salmon annually.