Nature reserves will be established in Canberra's north and south to protect endangered species and offset the creation of new suburbs.

The ACT Government has allocated more than $5 million in its 2016-17 budget for the sites in Gungahlin and the Jerrabomberra Valley.

A total of 120 hectares will be set aside near the soon-to-be constructed suburb of Taylor to provide for the golden sun moth and box gum woodland community.

Planning and Land Management Minister Mick Gentleman said land would also be allocated near Hume to provide a habitat for the striped legless lizard and natural temperate grassland.

"Eastern Broadacre, an employment and industrial corridor which will be established in selected areas between the Majura Valley and Hume, will initially have 162 hectares of land dedicated to environmental offset," he said.

"The ACT Government has also committed to protect other species not impacted by these developments, but that are found within the offset sites, such as the critically endangered grassland earless dragon and button wrinklewort."

Range of conservation activities to be undertaken

Mr Gentleman said conservation activities including weed, pest animal and erosion control programs would be carried out at both sites.

"Conserving the cultural heritage of Symonston Aboriginal Quarry site, part of the Eastern Broadacre area, will also be a focus," he said.

"This includes delivering a community interpretation program in partnership with the Traditional Custodians to raise awareness of the indigenous cultural heritage within the local area.

"The funding will provide for the first stage of a project to plant native wetland appropriate species traditionally used by the Ngunnawal people along Jerrabomberra Creek as well as the control of local weeds."

The Government said it would monitor the offset sites and the outcome of the programs.