The company said it had made a £9m investment to open in Carryduff in the town’s once-derelict shopping centre.
Lidl said its opening marked the first stage in redevelopment of the centre, and paved the way for other new openings.
Another four retail units and a drive-thru restaurant or coffee shop have been identified for future investment.
Lidl said the new store reflected its “concept” design, with a spacious shop floor with wide aisles, long tills, restrooms and baby-changing facilities as well as an in-store bakery and extensive car-parking and landscaping.
Ivan Ryan, Lidl Northern Ireland regional managing director, said: “We’ve been incredibly excited to open our new store in Carryduff, which marks a significant milestone in our growth and expansion plans, as the 43rd Lidl store in Northern Ireland.
“It will also be a game changer for the local community as the first phase in the redevelopment of the former Carryduff Shopping Centre site.
“This new store will play a key role in the local community, offering new and existing customers access to Lidl’s high-quality products at affordable prices, just in time for the festive season.
“The excitement and support we’ve seen from the residents of Carryduff, stakeholders, as well as other businesses in the area has been fantastic.
“As we cut the ribbon on our final new store of 2024, we look forward to continuing our growth and investment in Northern Ireland, with more to come in 2025.”
Mr Ryan was joined at an opening ceremony by chef Gemma Austin, who is from Carryduff.
Established in 1999 when it opened its first store in Cookstown, Lidl Northern Ireland marked 25 years in the region this year. According to industry figures from Kantar for November 2024, it has a 9% share of the grocery market in Northern Ireland.
Carryduff Shopping Centre, which was opened in the late 1980s, had been in decline since losing its anchor tenant SuperValu in 2013.