The group will invest £70m in the new shops, which will be spread throughout London, south-east England, Yorkshire and Scotland.
The Co-op is expecting to open five stores in London by the end of March.
The company is entering the final stretch of a three-year turnaround programme following a period of turmoil mainly involving its banking group.
Stuart Hookins, property portfolio and development director at the Co-op, said: "Whilst other retailers are scaling back their expansion plans, the Co-op continues to open new convenience stores.
"We opened 100 stores in 2016, and we plan to open hundreds more new stores over the next few years."
The Co-operative Group is planning to create 1,500 jobs in the new year by opening 100 stores across the country.