The final total for last year’s BBC Children in Need fell by more than £2m on the previous year to £58m, the latest figures show.
This is despite the on-the-night total reaching a record £50.6m during the event, which took place in November.
The 2017 event raised £50.1m on the night and went on to reach a final total of £60.7m.
The highest total remains the £61m raised in 2016.
The 2018 donations meant the event has raised more than £1bn since its first major appeal in 1980.
Children in Need said it was supporting more than 3,000 UK projects to help disadvantaged children and young people, reaching more than 580,000 people in the past year.
Its fundraising totals have held up better than some of its high-profile fellow events.
Comic Relief's total fell from a record £108.4m in 2011 to £76m in 2017.
Simon Antrobus, chief executive of BBC Children in Need, said: "Once again our incredible supporters across the UK have done themselves proud.
"This is a tremendous result and will allow us to continue our vital work to help make a difference to disadvantaged children and young people across the UK.
"As a charity, we exist to support organisations in communities across the UK that empower children and extend their life choices, and this phenomenal total will go a long way towards helping us make a lasting impact."
The charity said the 2018 total had not yet been audited and was therefore subject to change.