Home Secretary Amber Rudd is due to launch the strategy at an event in London today amid concerns about escalating levels of violence with more than 50 people dying as a result of violent attacks in the capital so far this year.
The strategy is expected to stress the importance of early intervention to tackle the root causes of serious violence and steer young people away from crime.
It will also highlight the changing drugs market - such as "county lines" crime which involves gangs from urban areas establishing drug-dealing networks in rural areas - as a key driver of violence, setting aside £3.6m to establish a new National County Lines Co-ordination Centre.
In total, an additional £40m will be provided by the Home Office over the next two years to tackle the issue.
Meanwhile, Rudd will lead a new Serious Violence Taskforce which will bring together the voluntary sector, local government, police and other key sectors to ensure the strategy is delivered effectively.
"This strategy represents a real step-change in the way we think about and respond to these personal tragedies, these gruesome violent crimes which dominate the front pages of our newspapers with seemingly depressing regularity," Rudd will say.
"A crucial part of our approach will be focusing on and investing more in prevention and early intervention.
"We need to engage with our young people early and to provide the incentives and credible alternatives that will prevent them from being drawn into crime in the first place. This in my view is the best long-term solution.
"Because what better way to stop knife crime than by stopping young people from picking up knives in the first place?"