"Mixing with top-quality coaching and stars at the venue for the 2005 world championships can only help to inspire and enthuse young people."
The Department of Culture, Media and Sport said the money had been allocated from the Government's Capital Modernisation Fund to pay for coaching and competition for young athletes once the stadium is built.
The stadium in north London will host the 2005 world athletics championships.
Culture minister Chris Smith said: "I am delighted that the national athletics centre will be the focal point for the whole sport - from the youngest hurdler to the Olympic contender.
"Mixing with top-quality coaching and stars at the venue for the 2005 world championships can only help to inspire and enthuse young people."
The venue will also receive further funding from the London Marathon Charitable Trust, to go towards its youth and community objectives.
The £90m 43,000-seat stadium complex is progressing through the planning stages and appears on course for a relatively smooth process towards completion.
Athletics was originally due to be included in the troubled new Wembley stadium development.
That option was ruled out last year, paving the way for the Pickett's Lock project and a permanent home for the sport.