The money will fund a range of investments, such as the re-purposing of empty buildings for housing or social and community enterprises.
Fife tops the list with an allocation of £4.3m. Three other council also receive more than £3m each: Aberdeenshire, Glasgow City and North Lanarkshire.
The Town Centre Fund, which has been set up in partnership with local government association COSLA, is aimed at helping councils ensure their high streets are more diverse, sustainable and successful in the face of changing and evolving retail patterns.
Economy secretary Derek Mackay said: “Town centres are facing challenges across Scotland in adapting to a changing retail climate, and it is important that we help them to diversify and adjust to overcome these challenges. I want to make sure we can keep life in our high streets, and ensure they continue to be thriving places for communities to live, work and enjoy.
“This £50 million fund will enable local authorities to stimulate and support a wide range of investments which will encourage town centres to diversify and flourish, and create an increase in footfall through local improvements and partnerships.
“It is part of a wider boost to the economy through providing more than £5 billion of capital investment to grow and modernise Scotland’s infrastructure, and a wider package of support to businesses, including maintaining a competitive business rates package and providing the most generous package of non-domestic rates reliefs anywhere in the UK.”