Canberra-based universities will receive almost $211 million in research block grants next year, according to figures issued on Monday by federal Education Minister Dan Tehan.
The Australian National University will receive about $197.5 million in research block grants, with $71.6 million of this coming from the additional research support package promised in the latest federal budget.
The University of Canberra will receive $13.3 million in grants, with $4.3 million coming from the additional funding.
A total of almost $3 billion will be shared between Australia's 42 universities, including the $1 billion research support program.
Mr Tehan said the funding would ensure the sustainability of Australia's important research and training the next generation of innovators.
"Our investment in research will also safeguard thousands of researcher jobs and directly support more than 40,000 masters and PhD students next year to advance their research studies," he said.
An ANU spokesman said the university was very grateful for the extra investment through the block grant, which would help to maintain its research program in challenging times.
"This funding helps the University pay for the total cost of its research, including funding PhD students and supporting successful government grants.
"The funding also allows us to invest in innovative new programs to work with Australian businesses.
"In addition, additional funding and places for short courses at ANU will mean we can deliver on our commitment to give Australians and students the skills they need."
According to ANU recovery plan documents, the one-off research grant funding will be spread over 2021 and 2022. The documents state the funding boost does not change 2021 revenue projections, and so the university would still need to cut jobs.
The spokesman said ANU researchers and experts have helped lead Australia's response to the pandemic.
"We welcome funding to keep powering this vital work and our unique mission as a university for all Australians."
A University of Canberra spokeswoman said the university welcomed Mr Tehan's announcement of the release of critical funding.
"Our researchers have shown incredible resilience over the course of 2020, many of whom have either readjusted their research programs or in more extreme circumstances placed them on hold due to travel restrictions or other limitations as a result of the COVID-19 pandemic," the spokeswoman said.
"This funding will go a long way to supporting our researchers, academics, early career researchers and supporting our higher degree by research students through much needed research scholarships and funding, and further secure the continuation of many research programs in 2021."
Mr Tehan said the Morrison government was investing more than $13 billion in university research over the next four years.
"We want our universities to get better at turning research into new products and innovations that drive job creation, business opportunities and productivity gains," he said.