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Both the domestic and international terminals will benefit from the upgrade.
As part of a domestic terminal expansion, the new lounge will increase capacity by 30 per cent with the redesign of the existing Qantas Club and construction of a new Business Lounge and Chairmans Lounge.
The First and Business Lounges in the international terminal will also be redesigned to create a single premium lounge experience, as such increasing the space.
Construction will soon begin and a staged completion will be rolled out in 2016 and early 2017.
The lounge updates come at the same time as an announcement detailing that around half of Qantas' 67 Boeing 737 aircraft will undergo refurbishments at the Brisbane maintenance facility, with the rest receiving upgrades in Sydney.
Works to upgrade the airline's fleet of 28 Airbus A330 wide body aircraft are also underway at the Brisbane facility.
"Queensland is where it all began for Qantas and we are very proud to maintain such a strong presence and commitment after almost 95 years of operations," says Qantas CEO Alan Joyce.
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