Billionaire James Packer has donated close to $250,000 to the Australian Republican Movement.

Fairfax Media has confirmed the donation, paid in two instalments this year, is the second-largest in the ARM's history.

It is understood the first instalment of $50,000 was paid by an entity owned by Mr Packer, while the remaining $200,000 was from the gaming billionaire himself.

The donation is the largest since Prime Minster Malcolm Turnbull - a founding member of the movement and chairman from 1993 to 2000 - stumped up almost $3 million ahead of the Republican referendum in 1999.