Announcing the move, conservative Prime Minister Scott Morrison said Australians want a plan that "does the right thing on climate change and secures their future in a changing world."
Widely seen as a climate laggard, Australia is one of the world's largest coal and gas exporters and has long resisted adopting a carbon-neutral target.
However, Morrison refused to strengthen 2030 emissions reduction targets seen as crucial for meaningful climate change action, saying he would work to keep mines open.
"We want our heavy industries, like mining, to stay open, remain competitive and adapt, so they remain viable for as long as global demand allows," he wrote in an opinion article released by his office.
Australia has previously agreed to reduce greenhouse gas emissions 26-28 percent on 2005 levels, a target Morrison has claimed the country will "meet and beat."
"We won't be lectured by others who do not understand Australia. The Australian Way is all about how you do it, and not if you do it. It's about getting it done," he wrote.
"We will also not be breaking the pledge we made at the last election by changing our 2030 emission reductions targets."
The 2050 commitment comes just days before Morrison departs for next month's United Nations COP26 climate summit in Glasgow.
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