Australia has secured access to a "promising" coronavirus vaccine, the prime minister announced Tuesday, saying the country would manufacture it and offer free doses to the entire population.

Prime Minister Scott Morrison said Australia had reached a deal with Swedish-British pharmaceutical company, AstraZeneca, to receive the COVID-19 vaccine it is developing with Oxford University.

"If this vaccine proves successful we will manufacture and supply vaccines straight away under our own steam and make it free for 25 million Australians," he said.

The Oxford vaccine is one of five globally in Phase 3 efficacy trials and researchers hope to have results by the end of the year.