The funding will help the charity develop close partnerships with voluntary, private and public sector organisations to ensure all young people have access to services and projects. The scheme is due to last five years.
An initial grant of 150,000 will be used to recruit three programme directors to cover England, Scotland and Wales.
Douglas Hamilton, head of policy and research at Save the Children in Scotland, said: "Part of the problem is that services are failing to reach the poorest communities and young people, and we want to find out what additional services are needed to help them. In Scotland we want to develop six or seven partnerships and work intensively."
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