The Church will provide grants of between £250,000 and £3 million to diocesan projects which "crucially... focus on people rather than buildings."
The Archbishop of Wales, John Davies, said it's about the Church putting its money where its mouth is.
"We have long talked about growing the church and now we want to invest in projects across the country to enable that to happen," he said.
"It is a radical answer to the decline we are experiencing in many places, and £10m is a transforming amount. I am looking forward to seeing some really creative and inspiring projects that will breathe new life into some of our churches and into our mission in Wales."
The evangelism fund is being launched on Pentecost Sunday - 20th May - the day traditionally regarded as the Church's birthday when Christians focus on sharing their faith and growth.
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