Around $49.5m of the funding will be used to upgrade Runway 17-Center/35-Center, in addition to carrying out associated taxiway enhancements.
The remaining $2.6m will be invested on modernising the lighting system of the terminal ramp areas.
The refurbishment project also involves replacement of the centre third of the runway, as well as the installation and integration of an upgraded pavement sensor system that would be used to measure weather impacts.
The runway features a 12in of lime-treated sub-base, eight inches of cement-treated base, and 18in of Portland Cement concrete.
DFW Airport CEO Sean Donohue said: “Next year, we plan to rehabilitate the runway used for more arrivals than any other at DFW, and this grant from the FAA will go a long way toward funding that critical infrastructure need.
“We thank our partners at the FAA for supporting DFW through needed infrastructure improvement grants, and we also extend our sincerest gratitude to Congresswoman Eddie Bernice Johnson and Congressman Kenny Marchant for their ongoing support of DFW Airport.”