Terrorgram is an online network that promised racially motivated violence, the federal government said.
Its channels share fascist content and details on how members can carry out racially-motivated violence including against minority groups, police, public figures, political figures and journalists.
"It is now a criminal offence to use or deal with the assets of, or make assets available to Terrorgram," Foreign Minister Penny Wong said in a statement on Monday.
Penalties include up to 10 years in prison and heavy fines.
It is the first time Australia has imposed counter-terrorism financing sanctions on an entirely online entity, Senator Wong said.
Debate on strengthened hate speech laws will continue in federal parliament in the coming days, with the opposition pushing for mandatory minimum prison sentences for terror offences.
Garages and vehicles were spray painted in a weekend anti-Semitic attack. (Bianca De Marchi/AAP PHOTOS)
It follows a spate of anti-Semitic attacks including the targeting of Synagogues and the discovery of a caravan packed with explosives in Sydney's northwest with a note containing addresses of Jewish institutions.
The explosives had the capacity to cause a 40m radius blast, but no detonator was found.
On the weekend eggs were hurled at five young women near Sydney's Bondi Beach and cars and buildings were spray-painted with anti-Semitic slogans.
It's alleged the women were targeted by three young men in a silver Mazda that crashed onto a kerb with the engine running on Saturday night. The car contained a carton of eggs and an empty jerrycan.
Strikeforce Pearl commander Detective Superintendent Darren Newman said investigators were treating the matter as an anti-Semitic incident noting that the young women's clothing possibly made them targets.
On Monday, in a separate incident, NSW Police said they had charged a 21-year-old male with intimidation offences after a woman reported anti-Semitic abuse by a man in the yard of a private premises in Bondi. He was refused bail to appear in Newtown Local Court.
Meanwhile, the foreign minister also re-listed sanctions for the National Socialist Order, the Russian Imperial Movement, Sonnenkrieg Division and The Base for promoting nationalist and racist violent extremist ideologies.
"This demonstrates the Albanese government's commitment to disrupting the activities of terrorists and violent extremists and preventing them from recruiting and radicalising people online," Senator Wong said.
"There is no place in Australia for anti-Semitism, hatred or violence."
The secretary-general and leading spokesperson for the designated terrorist group Hezbollah have also been sanctioned.
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