The gift from India's Tata Group and its Chairman Ratan Tata will fund Tata Hall, a new academic and residential building in Boston for participants of executive education programs, the BBC reported.
More than 9,000 business leaders from around the world are enrolled in Harvard's advanced management program.
The school's Indian-born dean Nitin Nohria, thanked Tata for a "historic gift."
The Tata Group has 98 companies in industries ranging from IT services to power generation, and tea production to steel and motor cars, and with annual sales of $71 billion is one of India's largest businesses.
Tata launched India's first indigenous car, the Indica, and has bought companies like Britain's Jaguar and Land Rover, the BBC said.
Notable deaths of 2014 [PHOTOS]