Government spending cuts and tax and benefit changes will tip another 600,000 children into poverty by 2015, according to a new report.
The findings, published by the Children's Commissioner for England, warns economic measures to slash the deficit will hit families the hardest.
It claims its research suggests the Government may not meet its legal obligations to children and young people.
Under the UN Convention on the Rights of the Child, the UK is bound by international law to uphold children's rights to the maximum extent of available resources.
Independent economists behind the report, called A Child Rights Impact Assessment of the 2013 Budget, examined the full effect of the Government's tax and benefit reforms.
It found single parents and those with disabled children were being particularly hard hit, and that income of families with children had fallen by over twice as much as those without.
Families with children make up around 32% of working-age families in England and will bear more than half - 51% - of the costs of the benefit and tax changes for 2010-15, it said.
The report concluded families with children in the poorest 10% of the population are losing an average of £40 per week, with those in the lowest 20% and 30% losing £30.
It warned these losses represented a "very serious reduction" in income when the poorest families with children live off around £370 a week.
Universal credit reforms in 2015 will partially offset the impact but will not cancel out all the losses for the families since 2010, the researchers said.
Maggie Atkinson, Children's Commissioner for England, described the report as the "most comprehensive and accurate analysis we have to date on what exactly is happening to the poorest and some of the most vulnerable members of society".
She said: "It makes uncomfortable reading: they are getting progressively worse off and more children are entering poverty.
"Ultimately, that means more children going without the basics because their parents and carers cannot afford them."
But the Treasury said the analysis "presents an incomplete picture".
A spokesman said: "It does not take into account the Spending Round announcements, including the continued protection of the schools budget and spending on the pupil premium, which provides extra funding for the most disadvantaged pupils."
The Children's Commissioner for England was set up as an independent voice to champion young people's interests and highlight their concerns.
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