The council is investing £9m in two new schools from the Sunesis range of standardised buildings.
Sunesis aims to achieve a build cost per pupil of £8,500 – £10,000 against a typical cost of £15,000 – £20,000.
Work will start at the Gatten and Lake Primary School in Shanklin in September and The Bay CE Primary School in Sandown the following month.
Each school will be completed within a year.
Mark Robinson, Chief Executive Officer of the public procurement organisation Scape, said: “Sunesis means that the best possible price can be offered because the guesswork is removed and everything is defined up front.
“We’re delighted that the Isle of Wight is the latest authority to recognise the value of our approach, and look forward to working with all our partners to deliver these high quality educational facilities.”
John Frankiewicz, CEO for Willmott Dixon Capital Works said: “The schools will combine a well designed, quality product with high energy efficiency in operation.
“Willmott Dixon and Scape are committed to providing real, workable solutions to councils who want their budgets, already under much pressure, to go even further.”