Horizon Europe is a planned 7-year (2021-2027) European Union scientific research initiative with a total budget of €100 billion for research and innovation funding. Of that sum €2.4 billion is earmarked for the Euratom nuclear research program and €3.6 billion is put away for an umbrella investment fund, called InvestEU.

The programme will be set out in a multiannual Strategic Plan to prepare the content in the work programmes and calls for proposal for the first 4 years of Horizon Europe. The strategic planning process plans to focus in particular on the Global Challenges and European Industrial Competitiveness pillar of Horizon Europe. It will also cover the Widening Participation and Strengthening the European Research Area part of the programme as well as relevant activities in other pillars.

Horizon Europe will incorporate research and innovation missions to increase the effectiveness of funding by pursuing clearly defined targets:
- Mission for Adaptation to Climate Change, including Societal Transformation;
- Mission for Cancer;
- Mission for Healthy Oceans, Seas, Coastal and Inland Waters;
- Mission for Climate-Neutral and Smart Cities;
- Mission for Soil Health and Food.