Premier Annastacia Palaszczuk says internet connections at 1258 state schools will be upgraded by Telstra, including 40 regional schools connected to fibre optics for the first time, over the next four years.
Under the deal, Telstra says average internet speeds per student are expected to rise from 25Kbps currently to 5Mbps.
"This will ensure teachers and students have access to the latest digital technologies and tools for their classrooms, everything they need for world-class education," Ms Palaszczuk told state parliament on Thursday.
"As a result of these upgrades, students from even the most remote parts of Queensland will have access to quality, high-speed connectivity, and will get to enjoy all the opportunities that come with it."
The premier said average internet speeds will be 40 times faster by the end of 2023 in the first stage upgrade, and be 200 times quicker by 2026.
Next-generation satellite technology will allow some 40 schools in Queensland's most remote regions to connect to high-speed internet for the first time.
Education Minister Grace Grace said the scheme would be a 'game-changer', with work to begin next term.
"It will enable teachers and students right across Queensland to have access to the latest tools and technologies needed to deliver a truly 21st-century education," the minister said.
Liberal National Party education spokesman Christian Rowan said the rollout was coming late, given that slow internet speeds in state schools had been widely canvassed in an auditor-general report published in July 2021.
"For the Premier and her Minister to only discover that fast internet is a necessity in our schools in 2022 shows this government is always too slow to act," he said in a statement.
"The Queensland Minister for Education must explain why it will take so long for Queensland schools to reach the same internet speeds as what NSW schools already deliver."
Despite the investment, the opposition said it would be another four years before Queensland matched current internet speeds at NSW schools.
Telstra will also invest $110 million in its exchanges across the state, which will provide faster internet for online businesses, agricultural management and telehealth services.