The UK Government has allocated £32m for the installation of netting and fencing on the Dawlish and Holcombe route to protect it from storm damage.
The latest funding, which is provided after three earlier phases of work, brings the total amount to over £150m.
Works will help avoid storm debris from reaching the railway, creating better transport links to the area and offering safer journeys for passengers.
The government launched the South West Rail Resilience Programme (SWRRP) after the storms in 2014.
Under the programme, the government committed £155m for the creation of a resilient railway, as well as reducing the risk for local communities.
Using this funding, the government already reconstructed the sea wall along the Marine Parade. It added more cliff protection measures and made accessibility upgrades.
UK Rail Minister Wendy Morton said: “Devon’s iconic sea wall and the picturesque towns surrounding it are jewels in the British crown, and we’re committed to protecting this vital line and the communities it serves.
“Through our wider £155m investment, we’re also working to boost connectivity and support the thriving local economy and tourism.”
As part of SWRRP, around £53m was provided for a complete overhaul of the train care depot in Exeter, while about £80m was used to build a new sea wall at Dawlish between Colonnades Bridge and Kennaway Tunnel that was opened last year.
Currently, the next phase of work is in progress to the east.
Last month, the UK Government agreed to provide €2.1bn in green funding for a new high-speed electric railway project in Turkey.