According to the Herald Express, boat owners, harbour operators and processors have just two months to grab a share of the cash, starting yesterday.
Government department DEFRA confirmed the European Commission had just approved the level of help.
The news agency reveals that Teignmouth port, which has recently had a multi-million pound extension, could also benefit from a share of the money.
England's fishermen will be able to bid for a share of more than £60million after the European Commission approved UK plans for awarding European Fisheries Fund grants.
Fleet spokesman Capt Jim Portus said it was actually two years late 'and the minister had better start writing the cheques while there's still a fleet left'.
Fisheries Minister Jonathan Shaw said: "This is a significant amount of money and we need to make the best possible use of it to benefit the industry long-term.
The 60m EU Fish Catch
UK - Brixham's fishing industry could be in with a chance of grabbing a share of a massive 60million grant windfall.The EU cash, approved to help boat owners struggling with the crippling cost of marine fuel, could mean big benefits for both the fleet and the port's regeneration.