The federal government will contribute $920 million towards the completion of the Newcastle Inner City Bypass and the Singleton Bypass projects.
The funding will be included in Tuesday night's budget as part of a $2.7 billion investment in transport infrastructure across the state.
The federal government will contribute $360 million towards the cost of completing the long-awaited final stage of the Newcastle Inner City Bypass between Rankin Park and Jesmond.
The price tag for the project was put at $280 million when it was announced by the state government in 2014, however, this has since increased to $450 million.
The state government has contributed $90 million towards planning and design works to date.
The federal government has agreed to pick up the remaining cost in order to have it completed as quickly as possible.
Construction on the 3.4 kilometre missing link is now due to start in late 2021 and be finished by mid-2025.
The project is expected to support 900 direct and indirect jobs.
The federal government will also contribute $560 million towards the cost of the $700 million Singleton Bypass.
The state government, which has allocated $95 million to the project to date, will need to contribute the final $45 million.
The bypass includes eight kilometres of new highway that will bypass up to five sets of traffic lights and remove about 15,000 vehicles a day from Singleton town centre.
Construction is due to start in mid-2023 and be completed by late 2026.
The government estimates the project will support 1370 direct and indirect jobs.
Prime Minister Scott Morrison said the budget would deliver funding for infrastructure which supports the Government's JobMaker plan and help NSW recover from COVID-19.
"We have been working closely with state and territory governments to invest in the infrastructure that is ready to go and can help rebuild our economy and create more jobs," he said.
"These projects will keep commuters safe on the road, get people home to their loved ones sooner and provide better transport links for urban and regional communities."
"As part of the COVID-19 economic recovery plan we have invested an additional $5 billion focused on shovel-ready projects across the state.
"This latest investment will provide another boost to the local economy and is part of our plan to support an estimated 8,000 direct and indirect jobs across the state."
The Committee for the Hunter has also presented the government with three major infrastructure projects that it hopes will receive funding in Tuesday's budget.
The projects are the Newcastle Airport runway extension, the Port of Newcastle container terminal and the University of Newcastle STEMM building. It is estimated the projects have the capacity to generate billions of dollars and create more than 20,000 new jobs
"Our message is clear. The Hunter is ready, we have tremendous capacity to make an impact in the national economy, invest in us and we will deliver," Committee for the Hunter chief executive Alice Thompson said.
Deputy Prime Minister Michael McCormack listed the Hunter and one of 10 ten priority investment regions last week where all levels of government will coordinate investment to support recovery and growth.
"Importantly, the Hunter has been prioritised because we presented a united front to government, demonstrating our commitment to work together in the region's interest and our capacity to be a credible delivery partner," Ms Thompson said.
"I look forward to seeing greater focus and investment in the Hunter in the budget, and recognition of the significant role we can play in the nation's recovery from COVID-19."
Mr McCormack said on Sunday that the government is focused on delivering priorities and boosting local jobs as part of Australia's road to a post-COVID recovery.
"We will draw on local businesses to stimulate local economies through these projects," the Deputy Prime Minister said.
"Infrastructure means jobs, it means livelihoods, it means stronger local communities and it means building a better and more secure future for our nation."
Minister for Population, Cities and Urban Infrastructure Alan Tudge said the Government was driving the delivery of major infrastructure projects in NSW to help on the economic road back from the pandemic.
"Our investment in NSW will help build the State economy, provide jobs right now and give business the certainty it needs in the long term," Mr Tudge said.
"Key investments across NSW include $560 million for the New England Highway bypass of Singleton and $1.5 billion for the Coffs Harbour Bypass, which includes additional funding in the 2020-21 Budget of $491 million to maximise the benefits of this game-changing project for the community."