More than 400,000 people across the country are Greek Orthodox and the visit of Ecumenical Patriarch Bartholomew marks 100 years since the Archdiocese of Australia was founded.
On Saturday, His All-Holiness was part of a procession to the Annunciation of Our Lady cathedral in Redfern, in Sydney's inner city.
The Patriarch's visit marks 100 years since the Greek Orthodox diocese was established in Australia. (Mick Tsikas/AAP PHOTOS)
"This is a historic occasion - and a great honour for our nation," the prime minister said as he welcomed the patriarch at the cathedral.
"Over those hundred years, the archdiocese has done so much to bring people together and share the spirit of love and compassion that is at the heart of the Christian faith."
Mr Albanese also announced the federal government would contribute $25 million to fund the restoration of the cathedral in Redfern and upgrade St Andrews Theological College
"This is about honouring and preserving centuries of tradition - sharing knowledge with the whole nation and passing it down to future generations and nourishing aspiration for the next 100 years of community and faith," he said.
More than 400,000 people across Australia are part of the Greek Orthodox community. (Jeremy Piper/AAP PHOTOS)
His All-Holiness was scheduled to meet with Mr Albanese at Kirribilli House following the service.
The event is part of a two-week visit to Sydney and Melbourne during which His All-Holiness will meet with Greek Australian and diaspora communities and political and interfaith leaders.
His All-Holiness' last visit to Australia 28 years ago was the first by an Ecumenical Patriarch.
Ecumenical Patriarch Bartholomew has previously advocated for environmental causes and interfaith dialogue.