The Semper Fi Fund assists Marines, soldiers, sailors and Air Force and Coast Guard members who are injured during service.
Barker is slated to make the donation on Wednesday at a ceremony in Hollywood, according to a press statement.
The former host of "The Price is Right" is a former World War II fighter pilot. He's also an animal rights activist and last year donated $2.5 million to help People for the Ethical Treatment of Animals open a new location in Los Angeles.