Odisha Chief Minister Naveen Patnaik made the announcement while felicitating Mamata Dalai and Pankaj Mohanta -- the two winners of the award this year.
Both winners were given Rs 1 lakh cash prize.
The two children from Odisha had received the National Bravery Award from Prime Minister Narendra Modi on January 24.
While felicitating them at the state secretariat here, Patnaik said the prize will also be given to those receiving the bravery award in the future.
Mamata, a six-year-old girl and a native of Bankuala village under Dangamal Gram Panchyat in Kendrapara district, was chosen for the award for saving her sister from a giant crocodile on April 6, 2017.
Patnaik also felicitated the members of Odisha womens cricket team who recently defeated Kerala to become the plate group champions in the Senior Womens T20 League.