The Nice Barrier Reef covers 216,000sq miles and was world-heritage listed in 1981.
But in recent years, it has lost almost a third of its coral due to bleaching linked to rising sea temperatures and damage from crown-of-thorns starfish.
In a further breakdown of the $444 million, $201 million will go into improving water quality, $100 million will go into reef restoration science, $58 million to combat the crown-of-thorns starfish, and $45 million for community management and engagement.
Coral bleaching caused by warming water temperatures has already destroyed almost 30 percent of the reefs, according to one recent study. The opposition said the government could still fail to reach its target to reduce emissions 26 to 28 per cent on 2005 levels by 2030.
"It's not working, it's not achieving major water quality improvements", he said.
"We welcome the investment in the #GBR, particularly funding for science to support reef resilience and adaptation, but the science advises us the #GBR is highly vulnerable to climate change", the academy said a statement on Twitter, using a hashtag to refer to the Great Barrier Reef. Crown-of-thorns starfish were responsible for nearly half of this decline.
"Clearly the government isn't investing in the entire Great Barrier Reef but importantly it will probably be investing in areas where we have targeted commercial interests - those tourists jobs", she said. The reef's health and prospects are increasingly grim.
"You can't be serious about saving the reef without a serious plant to tackle climate change", he said.
Earlier this month, scientists said the site suffered a "catastrophic die-off" of coral during an extended heatwave in 2016, threatening a broader range of reef life than previously feared.
A 2017 survey found coral mortality varied from the northern to the southern end of the Great Barrier Reef.
"Today's major investment brings real solutions within our grasp".
"These funds represent an unequaled opportunity to create a legacy of hope for future generations".
Agricultural run-off from sugar cane farms and cattle stations has also harmed the section of reef that is closest to shore, according to Bradley Opdike, a marine scientist at the Australian National University.
The Authority's future funding has also been secured with an additional $10 million in annual funding from 2022-23.
In 2016, Labor also pledged $500 million of funding over five years towards the Reef if elected.