The National Lottery funding has been granted to the Royal Pavilion Estates in an effort to remove the gardens from the Historic England At Risk register.
The “A Garden Fit For A King” project is also hoping to raise awareness of the “significance and beauty” of the site.
Hedley Swain, chief executive of Brighton and Hove Museums, said: “It’s a huge relief, this has been a lot of work over a lot of years.
“When you walk through the garden you see it really needs investment and this is for the garden itself.
“We have an incredibly precious little group of gardens and buildings here. There’s none like it anywhere in the world.
“There’s a whole shopping list of things that will come together to completely transform people’s perception of the gardens.”
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Royal Pavilion Estates will receive nearly £4.4 million from the National Lottery Heritage Fund.
The grant is over a quarter of a £15 million fund being awarded nationally.
The Regency period gardens, which are Grade II listed, are described as having “extensive significant problems” by Historic England.
The garden is “a highly socially valued urban green space but with little chance to understand its historical value”.
The garden was first put on the at risk register in 2017.
Royal Pavilion Trust chief executive Hedley Swain
Mr Swain said that work on the gardens would hopefully start next year with a timeline of “three or four years” before it is completed.
It would include new flower beds, paths and street furniture such as lampposts and benches.
The project will also include plans for more educational facilities to help people walking through the grounds learn about the gardens while they do so.
The Royal Pavilion and the gardens were transformed in 1815 by architect John Nash who went on to work on Buckingham Palace.
The garden was itself Grade II listed in 1996.
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