The grants come weeks after the State of the Historic Environment Report was published, which highlighted the dangers of young people not identifying with their historic environment.
London-based charity Civic Trust has been granted £335,000 for its heritage open days programme, which encourages more young people to visit historic monuments and buildings.
The trust has to find match funding of £38,000 for the three-year UK-wide project.
In a separate award, Children's Express has been handed a £101,000 grant from the fund to run the Our Roots - Our Heritage project. The scheme gives eight to 18 year olds the opportunity to use journalism to express themselves about heritage issues.
The project, which is overseen by a journalist, will see more than 100 children visit at least 18 heritage sites with their articles being published in mainstream news publications.
Sharon Goddard, adviser for education at the Heritage Lottery Fund, said: "These two projects will build on the Heritage Lottery Fund's other work by inspiring young people to engage with their heritage and enable them to be more active in ensuring the physical survival of the historic environment.
After all, if we don't engage young people in heritage, it will not have a future."