According to the commission, national programs will provide financial aid to 19 member states affected by high migratory flows over a period of six years.
Italy will receive the majority of the funding, some $615 million, while Greece will receive $518 million.
"Member states nowadays face unprecedented challenges in the fields of migration and security and the Commission is taking action in a spirit of solidarity. The national programs approved by the Commission provide significant financial assistance to the member states to address these challenges," Migration, Home Affairs and Citizenship Commissioner Dimitris Avramopoulos said.
The European migrant crisis has recently escalated, as thousands flee increasingly conflict-torn countries in North Africa, the Middle East, as well as Central and South Asia.
According to UN data, some 137,000 refugees crossed the Mediterranean Sea for Europe in the first six months of 2015, over 2,000 dying in the attempt, some 1,930 of whom were headed for Italy.