The sum is a record-breaking amount, significantly improving on the £33m raised over 2006.
More than 500 projects will receive part of the £17,134,908 that Pudsey will distribute in its second and final round of grants over the first week of August. The distribution follows the first round of just under £20m worth of grants handed out to 832 projects in April this year.
BBC Children in Need received thousands of applications for funding, all of which underwent a rigorous process of assessment with an emphasis on supporting projects across the geographical spectrum of the UK and to initiatives that will have a direct impact on the lives of disadvantaged children.
The record-breaking annual sum was buoyed by the raising of an unprecedented £19m during last November's Appeal night. The remaining money was raised by a variety of individuals and organisations over the rest of the year in efforts ranging from a sponsored trek to the South Pole to a brass band concert staged in a swimming pool.
'Every single grant will make a real difference to the lives of disadvantaged children and young people in the UK,' said David Ramsden, chief executive of BBC Children in Need. 'We can only do this due to the amazing energy and commitment of our fundraisers and donors.'
Source: Celina Ribeiro, Professional Fundraising Magazine www.professionalfundraising.co.uk