Deputy First Minister John Swinney said the new funding will kick in from 2021 when the current school building programme ends.
The funding builds on more than £1.8bn spent on the school estate since 2009, and will deliver digitally enabled, low-carbon schools and campuses.
New investment models to support the scheme will be developed in partnership with the Convention of Scottish Local Authorities (COSLA).
It is expected that partnership design and development work will begin next year.
Speaking at the Education Buildings Scotland conference in Edinburgh, Swinney said: “This further £1bn investment will build on the progress already made by the existing Schools for the Future Programme and drive further improvements in the learning estate from 2021.
“We have worked closely with local authorities since 2009 and will deliver 117 new school projects benefitting 60,000 pupils by March 2020. We will keep up the momentum of improvements in education facilities throughout Scotland.”