George Osborne, the chancellor of the exchequer, has announced the funding for the Graduate and Research Centre at the Commonwealth Games Business Conference in Glasgow.
The centre is the next stage of the redevelopment of the GSA campus in the city centre, although as yet it does not have a confirmed location.
Last week the UK Government also pledged £5m to the efforts to restore the Mackintosh Building which was devastated by a fire in May.
Osborne, whose father co-founded the firm of fabric and wallpapers designers Osborne & Little, said: "I grew up in a family that valued design. My father created a manufacturing business based on interior design and it has always been part of my life.
"The name of Charles Rennie Mackintosh - synonymous with iconic architecture and design - is a magnet that draws people time and again to Glasgow.
"And there can be no doubt that the jewel in the Mackintosh crown is the Glasgow School of Art.
"The people of Glasgow and many people far beyond were horrified when a few weeks ago fire ripped through the Art School, gutting its priceless library.
"The UK Government has already made a £5m contribution to the Mackintosh Appeal to help ensure that the building is restored to its former glory.
"And we are today making an additional £5m contribution to support the School's new Graduate and Research Centre.
"Protecting the school's strong heritage and equipping it for the future."
Professor Tom Inns, director of The Glasgow School of Art said: "We are extremely grateful to the UK government for this support which recognises both the importance of research in creative disciplines to the future of the British economy, and the international profile of The Glasgow School of Art as a leading centre of studio-based creative education.
"The GSA has one of the largest research communities in the visual creative disciplines in the UK. The Graduate Research Centre will help us to develop our research profile further through new partnerships with national and international organisations."
The Graduate and Research Centre will be a "multi-disciplinary hub" but its precise location and design have yet to be confirmed.