The lab will mean about 100 new jobs in the Triangle.
Chancellor Randy Woodson said the idea is to bring together some of the brightest minds from government, academia and industry to study challenging big-data problems.
He called it the largest sponsored research contract in the university's history, which will provide $60.75 million over five years .
"NC State is committed to developing partnerships that solve the grand challenges facing society and promote innovative products and solutions that improve lives around the globe," Woodson said.
The NSA has made national headlines in recent months after former NSA worker Edward Snowden leaked some of the details of its intelligence gathering operations to the media.
Snowden fled the United States and has receives asylum in Russia despite US government attempts to bring him back to face federal charges.