The firm said the expansion was in response to growing consumer demand for its offering which now includes extended opening hours to cater for the growing breakfast market.
There are currently more than 1,700 Subway outlets in the UK and Ireland, all independently owned and operated as franchises of the US brand. Last year there were 150 store openings.
Subway said the stores currently provide work to more than 8,600 people.
Mike Charest, assistant regional director for Europe, said: "The UK and Irish markets have been fantastic success stories for the Subway brand and we see opportunities for further growth as more and more consumers demand great tasting food at a value price-point.
"The introduction of a varied breakfast menu and longer opening hours have been instrumental in increasing store footfall.
"In addition to our traditional store development we see new potential in settings such as universities, stations, convenience stores, hospitals, airports and petrol stations."
Subway describes itself as the world's largest submarine sandwich franchise with over 41,000 locations in more than 100 countries. The UK and Ireland market is the largest outside North America.