Calgary businessman Geoff Cumming is donating $100 million to the university's faculty of medicine, which will be named after him.
The Alberta government is matching the donation over 10 years.
University president Elizabeth Cannon says the funding will allow for cutting-edge research in medicine.
The funding is targeted at brain and mental health studies and research into infections, inflammation and chronic diseases.
Cumming earned a bachelor of arts degree from the University of Calgary in 1974 and obtained a master's degree from the London School of Economics.
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