Lung cancer receives only five per cent of tumour-specific cancer funding, yet the cancer is the biggest killer.

Only five per cent of tumour-specific research funding is spent on investigating lung cancer, yet it kills more Australians than any other cancer.

A Cancer Australia audit of cancer research investment, released on Wednesday, showed $1 billion was allocated to research projects between 2006 and 2011.

The government provided two-thirds of the funding, and the remainder came from other sources, including state and territory governments, non-government organisations, foundations and institutes.

Cancer is the leading cause of death in Australia.

Lung cancer kills more Australians than any other cancer, followed by bowel cancer and prostate cancer.

Breast cancer is fourth, and it gets the most money.

The report, released on Wednesday, shows direct funding increased for all cancers except "cancer of unknown primary" (CUP).

Cancer Australia chief executive Professor Helen Zorbas said the analysis of national funding would help guide research investment into the future."

She said Australian cancer research was of the highest international standing and recognition.

The report shows lung cancer received $16.3 million in tumour-specific research funding in 2009-11, up from just $2.5 million in 2003-05.

Despite this increase, the disease received only five per cent of total funding.

In comparison, about 26 per cent of tumour-specific research money was spent on breast cancer.

Thanks to help from money raised from charities, breast cancer received $86 million in tumour specific-funding in 2009-11, up from $33.4 million in 2003-05.

Cancer Council Australia chief executive Professor Ian Olver said the encouraging news from the report was that funding for lung cancer research had improved.

"It's not that we want to decrease the funding for the big cancers like breast cancer, we want to bring the others up to that level," he said.

Tumour-specific funding for prostate cancer accounted for 13 per cent.

The report shows there was no increase in funding for prevention research, which Prof Olver says would be extremely beneficial.

"Most of the work shows it's a very cost-effective type of research," he said.

"If you can prevent people from smoking, for example, you can make an enormous impact on the incidence of cancer."

Copyright AAP 2014