The programme will provide funding for improvements to shop and gap site facades on both Church Street and Bridge Street.
It will also deliver a range of promotional activities to try and attract increased footfall and drive trade into the town centre.
Willie Alexander, chair of the Revitalise Programme Steering Group, said: "Ballymena Town Centre Development Ltd is delighted to have secured investment through the Department for Social Development and for Ballymena Borough Council's ongoing support.
"The programme has received tremendous interest from local businesses that have recognised the potential for the regeneration of the area and attracting new investment."
Department of Social Development Minister Nelson McCausland also welcomed the new programme.
"The Revitalisation Programme will provide a much brighter and more vibrant streetscape for the many shoppers who come to Church Street and Bridge Street," he said. "This in turn will encourage more footfall in this area.
"It is encouraging to see so many of the traders play their part in rejuvenating what was historically the main shopping area of the town."
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