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The UK's "most vulnerable" hospital patients, who are unable to build up an antibody response to Covid, will be offered new drug Ronapreve from Monday.
The new Covid treatment, approved just last month, uses a pair of laboratory-made antibodies to attack the virus.
It was famously used as part of the suite of experimental medicines given to US President Donald Trump last year.
The antibody cocktail has been shown to reduce hospital stays by four days and cut the risk of death by a fifth.
The government said it had secured sufficient supply of the new therapeutic for eligible NHS patients across the four nations to cover the forthcoming winter.
Health Secretary Sajid Javid said he was "thrilled it will be saving lives from as early as next week".
"The UK is leading the world in identifying and rolling out life-saving medicines, particularly for Covid 19, and we will continue our vital work to find the best treatments available to save lives and protect the NHS," he said.
The new treatment is expensive and priority will be given to those patients at greatest risk of becoming severely ill.
It will be offered to those over-50 without the necessary antibodies, and those aged 12-49 who are immuno-compromised - for example those with certain cancers - who struggle to mount an antibody response, either through being exposed to Covid, or from vaccination.
The government said guidance would be sent to clinicians imminently so they can begin prescribing the treatment as soon as possible.
Of those eligible patients, antibody testing will initially be used to determine whether they are seronegative - meaning those who do not have an adequate existing antibody response - and will therefore be eligible for treatment.
The treatment antibodies - casirivimab and imdevimab - will then be administered to patients through a drip. The drug works by binding to the virus' spike protein, stopping it from being able to infect the body's cells.
The antibody therapy attacks the virus, unlike other Covid treatments such as the steroid dexamethasone that calm the body's overactive immune system.
There had been concern the idea was a dud after trials failed when antibodies were taken from patients who had recovered from Covid.
However, the companies Regeneron and Roche tested monoclonal antibodies in the laboratory to find the two that were best able to stick to the virus.
This has proved far more effective, and the therapy continues to work against new variants.
"Ronapreve is the first dedicated medicine developed for Covid 19 to receive marketing authorisation from the MHRA, representing a significant milestone in how the NHS is able to fight this disease," said Paul McManus, Covid 19 lead at Roche Products Ltd.
"We're grateful for the collaboration of the vaccine taskforce and NHS England in helping to bring this important antibody cocktail to treat and prevent acute Covid 19 across the UK."