That figure represents almost the entire of the state's southwest as well as several parts of the state's central regions.

The Lockyer Valley, Southern Downs and Toowoomba regions are also fully drought-declared.

Queensland cabinet minister Kate Jones said Mr Turnbull's announcement was a crucial one for those affected communities.

"I'm sure that these payments announced today will be welcomed by families," Ms Jones told reporters.

"This is an example of the Malcolm Turnbull government finally listening to the needs of Australia."

A Palaszczuk government spokesperson said more than $670 million had been invested through grants, loans, infrastructure projects and drought climate adaptation programs to assist farmers now and in the future.

Farmers who are experiencing drought conditions but find themselves in an area that is not drought-declared are urged to contact the Department of Agriculture and Fisheries to apply for an Individual Droughted Property declaration, the spokesperson said.

Rural advocacy group AgForce Queensland said the prolonged nature of the drought was placing a huge burden on many regional communities.

"AgForce has been advocating for many years for the asset threshold to be lifted so this announcement today will make a big difference to many drought-affected farming families," AgForce general president Grant Maudsley said in a statement.

"The extra funding for the Rural Financial Counselling Service is also very welcome, and we urge farmers to use this service and seek advice on how to apply for the Farm Household Allowance."