In a statement, Swinburne said the academy was being set up in partnership with global consultancy service Deloitte, TAFE NSW and the University of Wollongong.
The syllabus has been developed in collaboration with industry and aims to provide work-integrated learning and mentorship so that students can develop skills that are relevant to work.
Swinburne vice-chancellor Professor Pascale Quester said: "This program embodies Swinburne's commitment to be the prototype of a new and different university for the 21st century.
"The Cyber Academy reflects Swinburne's commitment to genuine industry-integrated learning and will help our students to be job makers and job takers in the future world of work."
Work opportunities will be offered at Deloitte, a government department or with an industry partner. Students will be able to continue working at an organisation where they are placed for on-the-job training during their course.
Deloitte Australia cyber leader Ian Blatchford said: "It's a critical time to address the current cyber security skills shortage. The Cyber Academy is an innovative, Australia-first program which will pave the way for the next generation of cyber leaders from diverse backgrounds and regional areas."
TAFE digital general manager Lyn Rickard said: "TAFE NSW has a strong track record of working with industry and tertiary education providers to provide students with the practical training they need to gain employment.
"We're proud to be partnering with Swinburne, Deloitte and UOW to rollout this one-of-a-kind program to set students up for success in the workplace and help future-proof the industry."
And UOW deputy vice-chancellor (Education) Professor Theo Farrell said: "UOW is delighted by our partnership with Deloitte, TAFE NSW, and Swinburne resulting in this highly innovative cyber security program that will create exciting career opportunities for our students.
"The Cyber Academy will address a critical workforce need and make an important contribution to this vital area of Australian resilience and security."