Mr Albanese met with US President Joe Biden, Indian Prime Minister Narendra Modi and Japanese Prime Minister Fumio Kishida at Mr Biden's home in Delaware for the Quad Leaders' Summit, the fourth in-person meeting of the group.
The prime minister said while the grouping of nations had not been around for long, it was continuing to build momentum for the region.
"The Quad is an important body, unlike a lot of international forums, it doesn't have a long history, and that means it's not defined by tradition," he said.
"It also means it's not constrained by it, which is why today's discussion was very open, it was a discussion of like-minded democracies about how our cooperation can make a difference in the Indo-Pacific."
Leaders agreed to a Quad Cancer Moonshot Initiative, which aims to reduce the number of cancer deaths in Indo-Pacific countries, and will also increase access to HPV vaccinations and a boost to screening.
Australia will chip in $29.6 million for the initiative, $13.1 million of which will come from mining magnate Andrew Forrest's Minderoo Foundation.
Indo-Pacific security was a major topic for discussion at the summit. (Supplied by Pmo/AAP PHOTOS)
The program will see more HPV vaccination programs to prevent cervical cancer across the Pacific in countries such as Papua New Guinea, East Timor, Vanuatu and Fiji.
Quad countries will also improve cooperation between coast guard units in order to advance maritime safety and interoperability.
Leaders also agreed to expand programs in the Indo-Pacific for maritime domain awareness to help other countries  in the region crack down on illegal activities at sea.
The summit also saw nations agree to a program to work together for further humanitarian assistance following natural disasters, including a joint airlift capability between Quad nations.
Anthony Albanese said it was an honour to meet with the US president at his home. (Supplied by Pmo/AAP PHOTOS)
Security and stability in the Indo-Pacific were high on the agenda for talks between the four leaders.
"The sum of the four countries is more than any individual nation can do, and this is a really practical initiative as well," Mr Albanese said.
"Australia is always better off when we work together with our friends and partners, leveraging our four nations' collective strengths to respond to the region's needs and to deliver for the Australian people."
The prime minister has stressed the Quad was here to stay and would remain strong, regardless of future leaders.
Our two nations have stood together for decades in the cause of peace, prosperity and stability.— Anthony Albanese (@AlboMP) Today, we continued our work towards a stronger future.Great to see you, my friend. 🇦🇺🇺🇸 pic.twitter.com/8KjQ2MntVkSeptember 20, 2024
The Quad summit was Mr Biden's last as US president before November's election, while Mr Kishida is also stepping down as Japanese prime minister.
Mr Albanese said he will hold one-on-one talks with India's prime minister.
He insisted relations between the two countries were strong, despite revelations India's government operated a nest of spies in Australia before it was disrupted by security agencies.
The next Quad meeting is due to be held in India in 2025.
