The gift is the largest ever to a liberal arts college, The New York Times reported.
The money is to be used to fund 40 Brockman scholarships a year, the college said, with the first for students entering in 2014. Students in the Brockman Scholars Program in Leadership will get full tuition, room and board as well as money for study abroad and internships.
To be eligible, students must be planning to major in science, mathematics or economics.
"The vision for this gift is to enable Centre to attract highly qualified students who become 'job creators' as they devote entrepreneurial thinking to society's needs, thereby stimulating economic growth," Richard Trollinger, Centre's vice president for college relations, said.
Centre in Danville, Ky., a small city south of Lexington, is known for good teaching, loyal alumni and study abroad programs. The college hosted last year's vice presidential debate.
Robert Brockman, son of A. Eugene Brockman, attended Centre for two years before transferring to the University of Florida. He has maintained close ties to the college, serving as chairman of the board for five years.
Centre received $19.5 million from the trust for student residences in 2010.
Celebrity Families of 2014 [PHOTOS]