The agreement will see both parties provide expertise and equity in projects on indigenous-held land throughout Australia, including possible development of joint ventures in tourism and agriculture.
Minister for indigenous affairs Amanda Vanstone said the arrangement would provide employment, training and economic opportunities for indigenous people.
"It is about action from a high profile bank with considerable financial expertise and from an organisation with land management expertise with both working towards the same goal of improving the lot of indigenous Australians," she said.
"However, it will be Aboriginal and Torres Strait islander people that will make sure that the fruits of this partnership produce results.
"They will be active players and involved in decision making and
management."
Macquarie Bank, Australia's largest investment bank, will provide advice in areas such as infrastructure, resources, property, treasury services and financial management.