The places will go to children from the most disadvantaged homes, in a bid to get parents and carers into work.
The child poverty plan sets a target to lift more than 1,000 children out of poverty by 2011.
The borough council hopes to achieve this by investing in early years and children's centres and programmes designed to reduce the number of young people not in education, employment or training.
Families living in overcrowded housing will also benefit from a new initiative to help them move into more suitable accommodation.
Councillor Clair Hawkins, the authority's lead member for children's services, admitted that tackling child poverty was a huge challenge.
"Tackling poverty is everyone's business and the council cannot do it alone. But with the support of our partners, we are committed to making sure that every child in Tower Hamlets is given the opportunity to live a healthy, happy and successful life," she said.
Tower Hamlets was awarded Beacon Status for its work on child poverty earlier this year. The proportion of children in the borough who are eligible for free school meals is the highest in England.
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