The endowment will be known as the Tropicana Professorship for Florida Citrus Innovation, according to a news release.
It will support teaching, research and outreach efforts.
Among the topics the research is expected to target are advanced production systems, efficient water use, protection of natural diversity and sustainable citrus production.
"As the largest buyer of Florida oranges, ensuring that Florida citrus remains vital, competitive and sustainable for generations to come is paramount,” Neil Campbell, president of Tropicana Beverages, North America, said in the release.
Tropicana, owned by Purchase, N.Y.-based Pepsico, is a leading processor of fruit and vegetable juices, including orange juice.