The early warning and control aircraft will help protect multinational logistics hubs, to ensure the uninterrupted flow of military and humanitarian aid into Ukraine.
The aircraft will be deployed for six months and based in Germany, and will operate within European airspace.
It will be sent as part of Operation KUDU, the Australian Defence Force's commitment to the training of Ukrainian recruits in the United Kingdom.
Earlier, Prime Minister Anthony Albanese announced Australia will sell locally made armoured vehicles to Germany under a $1 billion defence export deal.
Mr Albanese met with German Chancellor Olaf Scholz in Berlin on Monday ahead of the NATO summit in Lithuania.
More than 100 Brisbane-made Boxer heavy weapon carriers will be sold to Germany, one of the largest defence export deals in Australia's history.
"This is good for our defence, this is good for our national sovereignty, but it's also good for our economy," he told reporters in Berlin.
Mr Albanese said the sale of the vehicles, made by German defence manufacturer Rheinmetall, would be worth more than $1b to the Australian economy.
The talks with the German leader are expected to centre on manufacturing and clean energy, as well as security in the Indo-Pacific region and the war in Ukraine.
The federal government recently announced a package for Ukraine worth $110 million, which led the opposition to claim Australia's support was waning.
Speaking to reporters in Berlin, the prime minister reaffirmed Australia's backing for the Ukrainian government and people.
"This is about the people of Ukraine, struggling to defend their democracy and their sovereignty," he said.
Mr Albanese's three-day visit to Europe will include a meeting with New Zealand Prime Minister Chris Hipkins.
He'll also meet with the leaders of Japan and South Korea, who have been invited to attend the NATO summit.
The leaders of the so-called "Indo-Pacific four" are set to discuss the war in Ukraine, along with the role of the region in Europe.
Ukraine's ambassador to Australia Vasyl Myroshnychenko thanked Mr Albanese for his leadership in supporting Ukraine, and said his nation was grateful for the military and humanitarian aid.
He could not confirm a locked-in meeting between the prime minister and Ukrainian President Volodymyr Zelenskiy, but hoped it would take place.
Mr Albanese met with Mr Zelenskiy in the Ukrainian capital Kyiv after travelling to Europe for the 2022 NATO summit in Madrid.
NATO leaders were due to discuss plans to open a liaison office in Tokyo as part of a push to strengthen ties in the Indo-Pacific.
But French President Emmanuel Macron rejected the proposal.
Former prime minister Paul Keating praised the decision and said NATO was straying from its intended purpose of a European-American alliance.
"The Europeans have been fighting each other for the better part of 300 years, including giving the rest of us two world wars in the last hundred," he said.
"Exporting that malicious poison to Asia would be akin to Asia welcoming the plague upon itself."
Opposition home affairs spokesman James Paterson dismissed Mr Keating's comments as a "new low".
"It is in Australia's national interest that we have strong engagement with NATO, in particular that we stay in close touch with our NATO partners when it comes to the war in Ukraine," he told reporters.
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