The funding, now in its fifth round, is open to applications until April 30.
Gosport MP Caroline Dinenage wants groups in the region to take advantage of the £40m funding pot.
In 2015 the Coastal Community Fund awarded nearly £360,000 for the Solent Way Coastal Path – which runs from Lee-on-the-Solent up to Haslar Marina – as well as a grant of £1.75m for the Hot Walls transformation in Portsmouth in 2014.
The fund aims to encourage the economic development of coastal projects.
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Ms Dinenage said: ‘The Coastal Communities Fund has been a fantastic opportunity for many coastal areas across the country.
‘I want Gosport, Lee-on-the-Solent, Stubbington and Hill Head to benefit from this funding and I would encourage councils, local employers and groups to apply.’
For more information about the funding, people can visit biglotteryfund.org.uk.