Washington has in recent years looked to reinforce its relationship with Australia, part of a broader strategy to counter China in the Asia-Pacific region.
Albanese's visit comes on the back of Washington's recent diplomatic blitz through the Pacific, in which top US officials shored up support in Tonga, Papua New Guinea, Australia and New Zealand.
"My visit is an important opportunity to discuss our ambitious climate and clean energy transition, and shared goal of a strong, secure and prosperous Indo-Pacific," Albanese said in a statement, using the allies' term for the Asia-Pacific region.
Biden was scheduled to visit Australia in May this year but his trip was cancelled after domestic political negotiations over the US debt ceiling went sour.
Discussions about the landmark AUKUS security pact -- which also involves the United Kingdom -- are expected to be a prominent feature of Albanese's visit between October 23 and October 26.
"The visit will underscore the deep and enduring alliance between the United States and Australia and the two nations' shared commitment to supporting an open, stable and prosperous Indo-Pacific," the White House said in a statement.
The Pentagon recently outlined plans to continue testing hypersonic missiles and other precision weapons in Australia.
Washington has also agreed to help establish a domestic missile manufacturing industry in Australia -- and is expanding military rotations in the country's key northern bases.
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