"The AOC funding for athletes includes A$8.2million to the national sporting federations to spend on international competition in the lead-up to Beijing, A$4.6million for medallists and their coaches (and) A$5million to develop young athletes in the 2005 and 2007 (Youth Olympic Festivals)," the AOC said in a statement on Tuesday.
Australia were fourth in the medal standings at the Athens Games in August, finishing behind United States, China and Russia.
The AOC is aiming for a top-five finish on the medal table in Beijing, the AOC's director of sport Craig Phillips said.
The Australian and Chinese Olympic Committees have signed a co-operation agreement which Phillips said was the first step in giving Australia's athletes the chance to compete regularly in China before the 2008 Games.
