The project, by Sydney's Macquarie University under the auspices of the Sea World Research Rescue Foundation, will help guide conservation of two species, the Wobbegong and the Grey Nurse. Although these do not threaten humans their numbers are in serious decline.
The scientists say they will take genetic samples from sharks along the east coast of Australia and use them to determine whether sharks are migrating or are particularly isolated and therefore genetically distinct.
If certain populations of shark are found not to migrate and are genetically distinct, the study could be used to propose marine reserves around their habitat or to limit or exclude commercial fishing in that region.
Project head Luciano Beheregary said it was the first time genetics had been used to study shark migration.
"In the past a tag method has been used but these type of studies have a very low success rate," Beheregary said. "This project is groundbreaking in terms of using genetics to form a basis of conservation."
The Grey Nurse is considered close to extinction with fewer than 1,000 remaining off the east coast of Australia. The smaller Wobbegong is still commercially fished and is in serious decline.
Exact numbers are not known but over the past decade the number caught off the coast of New South Wales has halved.
Beheregary said specific conservation of sharks was needed because they took a long time to reproduce and were slow to grow.
"We hope that this information can be taken not only to the scientific community but to the legislators and the public so that strategies can be developed to conserve them."
The study is being funded by a 25,000 dollar (19,200 US) from frozen food company Birds Eye.