The mixed-use Oslo waterfront scheme will involve the redevelopment of West Station, which has been out of use since the 1980s.
The scheme, which is in the city's harbour area, will provide up to 130,000 m2 of mixed-use space, including offices, a hotel, a cinema and a public library.
Residential and retail elements will be combined on the site, which is owned by the government. The Norwegian Directorate of Public Construction and Property will develop the scheme.
The shortlisted architects will draw up their proposals between next month and May. A decision will be made by a design jury in June and the preferred bidder will be announced in July.
Each practice will receive a fee of up to £80,000 for taking part in the contest.
Ito is one of 11 architects working on billionaire entrepreneur Jorge Vergara's £320m plan to regenerate the city of Guadalajara in Mexico.