The announcement came as protesters have taken to the streets in US cities over systemic racism and police brutality, following the death last week of an unarmed black man, George Floyd, while a white policeman knelt on his neck in Minneapolis.
In a statement, the Jordan Brand said: "Black lives matter. This isn't a controversial statement. Until the ingrained racism that allows our country's institutions to fail is completely eradicated, we will remain committed to protecting and improving the lives of Black people.
"Today, we are announcing that Michael Jordan and the Jordan Brand will be donating $100m over the next 10 years to organisations dedicated to ensuring racial equality, social justice and greater access to education."
Jordan, a six-time NBA champion who led the Chicago Bulls' dynasty in the 1990s, is a Basketball Hall of Famer who owns the Charlotte Hornets.
Earlier this week, Jordan voiced outrage over the Floyd incident, saying he was "truly pained and plain angry" and that he stood with those "calling out the ingrained racism and violence toward people of color in our country."