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The commitment represents the largest investment in health and medical research grants.
The federal government has announced grants of more than $670 million for health and medical research.
The more than 1000 grants will support researchers and research institutions through the National Health and Medical Research Council.
Federal Minister for Health and Ageing, Mark Butler said the grants represent the single largest investment of their kind.
It would give young researchers a solid foundation for their future career while experienced researchers could continue to run innovative research projects, he said.
Clinicians also would be able to integrate their clinical skills into research practice.
"These grants support our research community to continue to make cutting edge discoveries that improve the diagnosis, treatment and cure of illnesses that touch all Australians," Butler said in a statement.
Victoria has captured the largest slice of funding with $278 million for 472 projects.
The University of Sydney received the largest amount of funding, with $87.8 million for 149 grants and the Murdoch Children’s Research Institute won the most grants for an independent medical research institute.
The grants also include nine Australian-European Union Collaborative Research Grants.
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