The gift is focused on supporting the college's financial aid program, the Harvard Gazette reported.
Griffin's gift, which will help as many as 800 undergraduates every year, will establish a scholarship, and provide matching funds for 600 new scholarships to inspire other alumni to contribute to the financial aid program.
Griffin, who graduated in 1989, has been a supporter of many financial aid initiatives at Harvard.
He has established a scholarship in honor of his grandfather, Wayne R. Gratz, and served on a Financial Aid Task Force that focused on raising support.
"It is extremely important that students of all backgrounds have the opportunity to challenge themselves, learn to solve complex problems, and ultimately better our world," Griffin, who started his career as an investor from his dorm room, said. "My goal with this gift is to help ensure that Harvard's need-blind admission policy continues."
The gift also includes $10 million to establish a professorship at Harvard Business School.
Notable deaths of 2014 [PHOTOS]