The funding announcement is being included in the government’s cancer strategy which is being published on Wednesday.
The strategy will set out a range of measures being taken to reduce waiting times, improve early diagnosis rates and prevent cancers.
Ministers will say it is a once in a generation opportunity to improve cancer care in this country with survival rates lagging behind a number of wealthy countries.
The travel support fund has been called for by charities for some time, who have argued that families have run up debts and had to cut back on essentials like food because of the cost of travel. It is further compounded by parents having to give up work or reduce their hours to care for their sick children.
Up until now, financial support has been heavily means-tested in England – and has only been made available to those on certain benefits. The same is true in Wales and Northern Ireland, while Scotland has a more generous – although not universal – scheme.
Rachel Kirby-Rider, of Young Lives vs Cancer, says her charity has been campaigning for almost a decade for this measure and called it “a huge step forward”.
Alongside the travel support fund, the government is also promising to improve play facilities in hospitals and provide more psychological support.
Jules Worrall, of the Teenage Cancer Trust, said she hoped the plans would lead to “real and lasting change for young people with cancer”.