The number of RE specialists has declined in recent years and RE experts suggest this is, in part, due to the decline in state-funded training schemes.
Subject experts have also warned that by not contributing anything towards RE teacher training, the government would see a decline in the quality of religious education in schools.
Last year, 42% of RE teacher training places were unfilled and almost 50% of RE lessons in secondary schools are delivered by teachers who are not qualified in the subject.
The Department for Education's decision to reintroduce the bursary has been welcomed by the Religious Education Council of England and Wales (REC) and the National Association of Teachers of RE (NATRE).
REC chair, Joyce Miller, said: "The announcement of bursaries for those starting RE teacher training courses in September 2015 is very welcome and marks a turning point for the subject.
"We are pleased the government has now taken steps to put RE back on an equal footing.
"Access to bursaries will allow those who want to teach RE to start their training without being financially penalised for choosing such an important subject."
Ed Pawson, chair of NATRE and head of RE at The King's School in Devon, added: "It is great news that teacher training bursaries for prospective secondary RE teachers have been brought back, although we are puzzled as to why the figure for RE graduates is less than 50% of that offered to Geography or D&T graduates earning a 2:1 degree.
"The evidence from the Department for Education's own workforce survey was always clear: there is a frightening shortfall in qualified RE teachers in our secondary schools.
"There is an indisputable need to bring more RE teachers into our schools and reinstating bursaries is only the first step towards redressing an imbalance that has existed for far too long."
The new government RE bursaries are worth £4,000 a year for students who hold an upper second-class honours degree, rising to £9,000 a year for those who have a first-class honours degree.