The 67-year-old "Aerosmith" rocker, is leading the new project called Janie's Fund, named after the band's hit song "Janie's Got a Gun", which Tyler wrote as a reaction to stories about child abuse, reported Contact Music.
He teamed up with the 'Youth Villages' organisation to create the initiative, which aims to raise awareness and financial support for underage girls who have endured abuse.
"As a father and grandfather, I want to focus my energy on things that really matter and leave behind something else in this crazy world along with my music," Tyler said.
"I am starting this fund to give a voice to the millions of victims who haven't had one and encourage everyone to join me on this mission," he added.