Tubman was born as a slave around 1820 and helped hundreds of others escape. While she will feature on the front of the USD 20 bill, Jackson's image will move to the back.
Treasury Secretary Jacob J Lew yesterday announced to add women and civil rights leaders to the new USD 10 and USD 5 notes, in a historically symbolic makeover of American currency.
The front of the new USD 10 note will maintain the portrait of Alexander Hamilton, he said.
Lew also announced plans for the reverse of the new USD 5 to honour events at the Lincoln Memorial that helped to shape the history and democracy and prominent individuals involved in those events, including Marian Anderson, Eleanor Roosevelt and Martin Luther King Jr, a media release said.
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In his letter, Lew noted that the Bureau of Engraving and Printing will work closely with the Federal Reserve to accelerate work on the new USD 20 and USD 5 notes, with the goal that all three new notes go into circulation as quickly as possible, consistent with security requirements.
"Today, I am excited to announce that for the first time in more than a century, the front of our currency will feature the portrait of a woman - Harriet Tubman on the USD 20 note," Lew said.
"Since we began this process, we have heard overwhelming encouragement from Americans to look at notes beyond the USD 10. Based on this input, I have directed the Bureau of Engraving and Printing to accelerate plans for the redesign of the USD 20, USD 10 and USD 5 notes.
Lew explained the decision to put Harriet Tubman on the
new USD 20 was driven by thousands of responses received.
"I have been particularly struck by the many comments and reactions from children for whom Harriet Tubman is not just a historical figure, but a role model for leadership and participation in our democracy," he said.
Lew said the new USD 10 will honour the story and the heroes of the women's suffrage movement against the backdrop of the Treasury building.
Treasury's relationship with the suffrage movement dates back to the March of 1913, when advocates came together on the steps of the Treasury building to demonstrate for a woman's right to vote, seven years prior to the passage of the 19th Amendment, he said.
The reverse of the new USD 5 will depict the historic events that have occurred at the Lincoln Memorial, he said.
And in 1963, Martin Luther King Jr delivered his historic "I Have a Dream" speech at the same monument in front of hundreds of thousands, Lew said.
"Honouring these figures will bring to life events at the Lincoln Memorial that helped to shape our history and our democracy. The front of the new USD 5 will continue to feature President Lincoln," he said.
"I have directed the Bureau of Engraving and Printing to work closely with the Federal Reserve to accelerate work on the new USD 20 and USD 5 notes. Our goal is to have all three new notes go into circulation as quickly as possible, while ensuring that we protect against counterfeiting through effective and sophisticated production," Lew added.