The Hollywood star’s Earth Alliance said it had pledged the cash to help support residents affected by the fires, enable wildlife rescue and support the long-term restoration of the environment.
Earth Alliance has launched the Australia Wildlife Fund along with partner organisations including Aussie Ark, Bush Heritage and Wires Wildlife Rescue.
DiCaprio, one of the world’s highest profile environmentalists, announced the news on Instagram.
Australia has been devastated by an unprecedented fire crisis in the south-east of the country that has so far killed at least 25 people with millions of animal feared to have also died.
Around two thousand homes have been destroyed while major cities have been shrouded in smoke.
The unfolding crisis, likely to continue throughout the Southern Hemisphere summer, has intensified demands for global action on climate change.