A total of 260,773 children experienced enforced deprivation in the State last year, according to research carried out by the Children's Rights Alliance.
The figure increased by 31,682 (18.8 per cent) compared to 2022, with more than one in five children (21.4 per cent) in the State experiencing deprivation last year.
The Children's Rights Alliance will publish its annual Child Poverty Monitor on Monday, analysing poverty amoung children and young people, as well as tracking the Government's action on the matter.
The latest research found that while the number of children living in consistent poverty fell from 7 per cent to 4.8 per cent last year, the figure still remains the highest of any other age cohort.
A further 4,874 (14.3 per cent) were found to be at risk of poverty, down marginally from 2022's figure.
While the alliance's chief executive Tanya Ward said the childhood poverty figures for 2023 were "disappointly still high", she added last year's figures did provide some hope.
Ms Ward pointed to a number of State initiatives aimed at tackling poverty among children and young people, including the expansion of the hot school meals and free school books schemes, and the commencement of the Equal Start programme, which she described as "important building blocks to ending child poverty".
"The foundation has been laid, but it will take sustained leadership and investment across Government and all our political parties working together to help lift children out of poverty," she added.
Ms Ward also called for Budget 2025 to be the "Children's Budget", stating it is the Government's last opportunity to "turn the tide on child poverty".
"Now it is time to move full tilt to deliver more effective targeted measures and income supports that work in tandem with universal measures to break the relentless cycle of poverty too many children are trapped in," she added.
