Health Minister Nicola Roxon joined former Australian cricketer Glenn McGrath today to announce the funding commitment at Parliament House in Canberra.
The 44 nurses will be specially trained to provide information and care to women diagnosed with breast cancer, their family and friends.
The McGrath foundation was co-founded by Glenn McGrath and his late wife Jane after she was diagnosed with breast cancer in 2002. She died of cancer in June this year.
Mr McGrath said that it was Jane's dream to ensure every woman diagnosed with breast cancer could access a breast care nurse after experiencing first hand the positive effect it had on her treatment.
"Today marks a very important milestone for us in realising Jane's dream and, while we still have some way to go, I know Jane was incredibly proud of this initiative and grateful to the Australian Government for their support," he said.
It costs approximately $350,000 to place one breast care nurse in a community for a three year period.
Ms Roxon said nearly all of the new nurses would be located in rural and regional areas.
"The nurses are being placed in areas that need them most and in locations where access to a full-time breast cancer nurse is not currently available," she said.