Prime Minister Scott Morrison said the country was on track for the most vulnerable Australians to start receiving the vaccine from February 22.
Three in five of the doses will be allocated to the states, while 62,000 doses will be set aside in case there are issues in subsequent weeks.
Priority will be given to hotel quarantine workers that are most likely to come into contact with positive international arrivals.
At least 30,000 doses will be made available for elderly people within residential care, followed by frontline health workers.
Earlier in the day, opposition health spokesman Mark Butler criticised the government for not rolling the vaccines out sooner.
"We're now into the second half of February and still not a single Australian has received a single dose of Covid-19 vaccine.
"Today is three weeks since the Therapeutic Goods Administration approve the Pfizer vaccine."
He said critical details, including when Australians would receive the vaccines, remained unclear.