Brisbane's iconic stadium, the Gabba, is set to receive a million-dollar makeover.

The state government today announced its plans to pledge $2 million towards the sports ground, which is the home of Queensland cricket and AFL.

It is hoped the funding injection will transform the Wollongabba area into a vibrant entertainment precinct.

The neighbouring Landcentre building, South Brisbane Dental Hospital and GoPrint are expected to be affected in the redevelopment.

The capacity of the stadium grounds itself will remain the same, but the players facilities and the stadium exterior are set to receive a modern facelift.

The funding announcement is the product of the Queensland State Government’s Cross River Rail project.

A number of other areas in inner-city Brisbane are also expected to undergo upgrades.