The funding will see work begin on a new Velo Rail Project.
An Offaly amenity is set to receive over €1.7 million in funding.
The investment from Bord na Móna and the Outdoor Recreation Infrastructure Scheme will see the trail network around the core visitor hub area at Lough Boora fully accessible.
The company also announced work is set to begin soon on the Velo Rail Project, which will include a 4.1km loop along the existing Bord na Móna narrow gauge railway.
A dedicated recreation team has also been recruited to work full-time on trails and other projects within the park.
Speaking on the announcement, Ger Breen, Head of Land & Habitats says:
"These upgrades at Lough Boora Discovery Park represent our ongoing commitment to enhancing visitor experiences and promoting sustainable tourism. Through our collaboration with Offaly County Council, we are not only preserving the natural and cultural heritage of the area but also creating new opportunities for adventure and exploration. The dedication of our team and partners ensures that Lough Boora Discovery Park will continue to be a valued destination for all."