The announcement was made at a parliamentary breakfast to mark World AIDS Day.
"This is is a critical public health measure," Darryl O’Donnell, Chief Executive of the Australian Federation of AIDS Organisations says. "For too long, too many people in Australia who aren’t eligible for Medicare struggled to afford the medicine needed to keep them healthy.
"This act of leadership will give access to antiretroviral medicine to everyone in Australia who needs it. This is more than a question of treatment, it is also a question of prevention, because a person with an undetectable viral load cannot transmit HIV."
Greg Hunt also announced an additional $1.5 million in funding for the HIV community workforce development.
Australia's Foreign Minister Senator the Hon. Marise Payne also revealed that Australia will co-chair the next United General Assembly High Level Meeting on HIV and AIDS in 2021.