It also locks in the coalition's $3.5 billion "Climate Solutions Package", which includes $2 billion for emissions reduction activities.
The Practical Environment Restoration funding adds to the $1.1 billion National Landcare Program, which supports wetland preservation, sustainable farming and protecting native habitats.
"(This) includes funding for environmental protection projects, threatened species, the restoration of coastal land and waterways, and waste recycling," Environment Minister Melissa Price said on Tuesday.
The Climate Solutions Package includes an already-announced $1.38 billion for the Snowy 2.0 pumped hydro development, and $56 million to develop the case for a second energy interconnector across Bass Strait.
There is money set aside for community-led programs, including $9.2 million towards controlling the Yellow Crazy Ant population in Queensland.
Ms Price said since coming to power in 2013, the coalition had improved the outlook for the Great Barrier Reef to remove it from an "in danger" watchlist, and appointed Australia's first Threatened Species Commissioner.
