The United States does not officially recognize Taiwan diplomatically but it is the self-ruled island's strategic ally and largest supplier of weapons.
China, which has ramped up political and military pressure on Taiwan in recent years, has repeatedly called for Washington to cease sending arms and assistance to the island, which it claims as part of its territory.
Taiwanese officials said China held its biggest maritime drills in years last week, with around 90 ships deployed from near the southern islands of Japan to the South China Sea.
Beijing did not confirm the drills.
The White House said in a brief statement that Biden had authorized the drawdown "of up to $571.3 million in defense articles and services of the Department of Defense, and military education and training, to provide assistance to Taiwan."
The statement did not provide details of the military assistance package, which comes less than three months after a similar package worth $567 million was authorized.
Taiwan earlier this week received 38 advanced Abrams battle tanks from the United States, reportedly its first new tanks in 30 years.
On Saturday, the Ministry of National Defense thanked the United States for "its firm security commitment to Taiwan."
"Taiwan and the United States will continue to cooperate closely on security issues to maintain peace, stability and the status quo across the Taiwan Strait," the ministry said it a statement.
It said it would not comment on the "content" of the assistance "based on the tacit agreement between Taiwan and the United States."
Beijing has regularly expressed anger at international support for Taipei and accused Washington of meddling in its affairs.
China maintains a near-daily presence of fighter jets, drones and warships around the island.
Beijing has said it will never renounce the use of force to bring Taiwan under its control and has also stepped up rhetoric about "unification" being "inevitable."
China has "amplified" its diplomatic, political and military pressure against Taiwan in 2023, according to a US Pentagon report released this week.
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