A $400 million plan to rescue the Great Barrier Reef is set to appear in the federal budget when it is revealed next month.

Prime Minister Malcom Turbull has already promised $60 million will go towards the cause, aiming to tackle runoff from farming as well as fund new research on coral bleaching.

An economics report released last year valued the reef at $56 billion, as the center of 64,000 direct and indirect jobs which contribute to the national economy each year.