Heart disease and cancer sufferers will benefit from a $2.6 million bequest from a Tasmanian farmer.

Betty Freeland lived at Cressy in the state's north until her death in 2009.

The 87-year-old was the youngest of three siblings who never married and lived on the Maitland property for most of their lives.

The farm has been sold for $ 2.6 million and the proceeds divided equally between Tasmania's Heart Foundation and the Cancer Council.

The money will be used to fund research and support sufferers.

Cancer Council Tasmania CEO, Simon Barnsley, says bequests make up 25 per cent of its annual budget for cancer services.

"Major gifts are a vital element in sustaining our capacity to deliver excellent and sustainable cancer services across the state," Mr Barnsley said.

Heart disease and cancer are responsible for 60 per cent of deaths in Tasmania each year.

The Heart Foundation's Tasmanian chief executive, Graeme Lynch, says the charities have never received such large donations.

"The Heart Foundation is solely funded by gifts from the general public and to get a gift from over $1.3 million from one source is just fantastic," he said.

"This work will go into our life-saving research into heart disease and that's particularly appropriate here in Tasmania."