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The new laws will also include penalties for preachers and leaders who promote violence, a new federal offence of "aggravated hate speech", and the introduction of "hate" as an aggravating factor in sentencing crimes for online threats and harassment.
"Every Jewish Australian has the right to feel safe, valued and respected for the contribution that they make to our great nation," Albanese said.
"The terrorists, inspired by ISIS... sought to turn Australians against each other. Australians have responded to that act of hatred with love and sympathy for those in mourning."
Albanese added that his government would be "fully supporting and adopting" the recommendations put forward in July in a report by antisemitism envoy Jillian Segal, who also spoke at the press conference.
She said the country was "at a very important moment not only for our community, but for fighting antisemitism around the world."
Her report was criticised by some upon its release in July due to its implications for free speech, including plans to monitor universities and arts organisations and withhold funding if they were deemed to have failed to act against antisemitism. There were concerns for instance, that the funding could be used to silence pro-Palestinian protests.
Home Affairs Minister Tony Burke said the government was "shifting the threshold".
"There have been individuals who have managed to exploit a nation that had different principles of freedom of speech and have gone right to the limits of language that is clearly dehumanising, unacceptable, having no place in Australia, but have not quite crossed the threshold to violence," he said.
Meanwhile, Albanese acknowledged accusations from the Jewish community that his government had not done enough to prevent antisemitism since the 7 October attack on Israel by Hamas, and said more could have been done.
"I accept my responsibility for the part in that as prime minister of Australia," he said. "But what I also do is accept my responsibility to lead the nation and unite the nation. Because what people are looking for at this time isn't more division." (BBC)