The ten year strategy will be separated into two five year action plans, with each plan to establish priority species and priority places that will guide Australia's formal conservation efforts and investment focus.

The previous strategy from 2015 pooled $535 million into 1400 projects, improved the population trajectory for six priority birds and 8 priority mammals in three years, and focused on the feral cat issue.

The latest strategy also includes land and seascape places for priority focus, where threat mitigation and habitat protection projects "will benefit multiple threatened species and ecological communities".

"Place-based conservation can provide coordinated action for poorly known and imperilled species, as well as listed threatened species," the strategy said.

"It will focus efforts on threatened ecological communities and threatened species habitats, including where many threatened species are co-located, mainland or island safe havens where major threats can be eliminated, and possible climate refuges for the future."

Environment Minister Susan Ley said raising awareness about conservation and focusing on science-based strategies was proving to make a difference.

"The 2021-2031 Threatened Species Strategy builds on the momentum created through the first Strategy, while expanding our ambition. It seeks to reduce the pressures on plant and animal populations and, ultimately, reduce the number of species in need of protection," she said.

NRM northern operations manager land and biodiversity Andrew Baldwin said the action plans established within the latest strategy would provide a blueprint for regional conservation.

"We are in the process of revising our regional strategy and I think this document provides a clearer understanding of where the national priorities are going to lie," Mr Baldwin said.

"It will help us align our thoughts and our content in our strategies to best make use of what funds might be available."