The retailer said that it hopes to integrate its online shopping and in-store experience by providing dedicated parking spaces for online grocery pickup and new areas in stores devoted to online orders.
Walmart will also revamp its stores with updates like wider aisles, an improved colour palette, new signage and, in some cases, updated exterior storefronts.
Walmart Canada has more than 500 stores across the country.
Through the investment, the retailer hopes to renovate 23 stores.
The renovations will begin before February 2019 and will create 2,500 construction jobs.
"This investment in our stores is part of our commitment to provide our customers with an improved in-store shopping experience," said Lee Tappenden, president and CEO of Walmart Canada.
"We are modernising our stores, ensuring a seamless omnichannel shopping experience and meeting evolving customer needs."
The announcement builds on recent investments Walmart has made to enhance the customer experience.
In September, Walmart Canada inked a deal with grocery delivery company, Instacart, to bring Canadian customers same-day delivery.
The retailer is also going to expand its Grocery Pickup service to 73 new stores this year, bringing the total number of stores offering the service to 165 by the year's end.