Twelve thousand people each day across the globe are predicted to die from hunger linked to the coronavirus pandemic by the end of the year.
In a briefing paper released on Thursday, Oxfam says the lack of food tied to the virus could claim more lives each day than the illness itself.
The global daily COVID-19 death toll peaked at more than 10,000 in April, the Oxfam briefing states.
Another 122 million people could be on the brink of starvation in the social and economic fallout from the pandemic.
Ten extreme hunger hot spots, which make up a 65 per cent hunger level, are in Yemen, Syria, Ethiopia, South Sudan, Democratic Republic of Congo, Afghanistan, Venezuela, the West African Sahel, Sudan, and Haiti.
Violence and insecurity plague eight out of the 10 extreme hunger hot spots.
The number of people close to famine in Afghanistan rose by one million in the eight months to May, with an Oxfam survey revealing 74 per cent of survey participants did not have access to food as prices soared.
Up to half of Venezuelan migrants may have lost their jobs due to the pandemic, fuelling the return of 80,000 people to their homeland.
Oxfam Australia acting chief executive Anthea Spinks said Australians were not safe from the flow-on impacts of this pandemic.
"We've seen that this virus has exacerbated the extreme inequality that exists in our society, no matter where in the world you may happen to live," Ms Spinks said.
"Coronavirus is the last straw for millions of people already struggling with the impacts of conflict, climate change, and extreme inequality."
Oxfam is urging the Australian government to commit an extra $2 billion of foreign aid over three years to help aid agencies respond to the crisis.
The briefing paper also reveals women are more likely to go hungry as they often earn less than men and bear the brunt of unpaid care work.
Climate change has also helped to drive up global food insecurity, with Ms Spinks urging the government to take meaningful action on it.
Since the start of the pandemic, Oxfam has helped 4.5 million people across the globe gain access to food aid and clean water.
Australian Associated Press