The first aircraft is expected to be delivered beginning in late 2027, according to the statement.
"The Albanese Government will purchase 20 new C-130J Hercules aircraft for the Royal Australian Air Force for $9.8 billion. This will provide the Air Force with state of the art C-130 Hercules to meet the air transport needs of the future," the ministry said in a statement.
The new acquisitions will replace and expand the 12 Hercules aircraft currently in service, the ministry added. The aircraft are used by the Australian military to transport personnel, equipment and humanitarian supplies, as well as for search and rescue operation, disaster relief and medical evacuation missions, the statement said.
The C-130J Hercules are designed by US aerospace giant Lockheed Martin.