The council has launched the grant for businesses who operate, or plan to operate, in town and city centres across the county.
The Town Centre Property Improvement Grant offers businesses anywhere between £2,500 and £250,000 to make physical improvements to their commercial property.
The council is accepting applications until 29 September.
They will then be assessed from 6 October and the council aims to let every applicant know whether they are accepted or not within eight weeks.
Cllr Nia Jeffreys, deputy leader and cabinet member for economy and community, said: “The regeneration of Gwynedd’s communities and town centres has been highlighted as a strong priority by residents across Gwynedd following extensive consultation as part of establishing a Regeneration Framework for the county.
“In response, the council has identified the field as a priority within the Cyngor Gwynedd Plan 2023-28 as part of the ‘Prosperous Gwynedd’ priority.
“With the Welsh Government’s financial support through their Transforming Towns regeneration programme, the first phase of the Town Centre Property Improvement Grant was completed in 2022 – with a tremendous response from the county’s businesses. As a result, almost half a million pounds was distributed to improve the look and appearance of 38 buildings in the heart of 13 towns.
“Building on the success of the scheme, the council has now decided to invest more money to reopen the fund and has attracted additional funding through the UK Government’s UK Shared Prosperity Fund and the Welsh Government’s Transforming Towns Fund.
“The fund will help bring buzz back to the high street, improve the look and appearance of towns and increase the stock of quality commercial properties available to local businesses.”
To learn more and see the full list of locations eligible for the grant, go to the website: www.gwynedd.llyw.cymru/PropertyImpGrant