Facebook has been offering the service for its employees in the US since the start of this year.
The policy is designed to attract and keep top female talent, by helping them avoid having to choose between motherhood and professional progression.
Apple will follow suit from January 2015.
"We continue to expand our benefits for women, with a new extended maternity leave policy, along with cryopreservation and egg storage as part of our extensive support for infertility treatment," Apple said in a statement.
Both companies are offering up to $20,000 (Â£12,500) for US employees covered by their insurance plans, to finance the procedure to extract the eggs and for their storage.
"We want to empower women at Apple to do the best work of their lives as they care for loved ones and raise their families,"  Apple's statement said.
The competition for recruiting talented staff in Silicon Valley is fierce and the policy may help technology giants attract and retain the best candidates.
There has also been growing pressure on firms to increase diversity in the male-dominated sector.
Jennifer Tye, head of marketing for Glow, a technology company offering women services to control their reproductive health, welcomed the new policies.
"Egg freezing gives women more control," she said.
"When I turned 30, I had this notion that my biological clock was ticking, but I didn't know what my options were.
"These employers should be commended."
However other commentators suggested the companies should instead focus on offering more flexibility and support for new parents.

Police said the man was detained as part of an ongoing investigation into the conflict in Syria.
Officers from the South East Counter Terrorism Unit (SECTU) and Sussex Police are searching one residential address.
The arrest is not linked to any immediate threat in the UK, police said.
Crawley MP Henry Smith said police told him early this morning that a 40-year-old man had been arrested at a property thought to be in the Langley Green area of the town.
He said: "I understand he has been arrested in relation to membership of organisations which are connected with activity to the Syrian civil war."
Mr Smith said he understood people would be concerned over news of the arrest, particularly following the death of Abdul Waheed Majeed, from Crawley, who died in a suspected suicide attack in Syria in February last year.
The 41-year-old, who was born and raised in Crawley, drove a truck bomb into the gates of a prison in Aleppo.
The father of three had left Britain in 2013 telling his family he was going on a humanitarian mission to Syria.
Mr Smith said: "These cases are in the minority but they are very concerning and the public need to feel that they are as protected as they can be."
A spokesperson for SECTU said the unit was committed to intervening in activities "which cause concern to local communities".
"We will continue to work with our partners and local communities in order to protect them from individuals and organisations which may seek to exploit them for extremist purposes," the spokesperson added.
Local residents are being asked to contact police if they have any concerns regarding extremist activity in the area.
Women working for Facebook and Apple are being offered an additional perk: they can have their eggs frozen.
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A 40-year-old man has been arrested in Crawley, West Sussex, on suspicion of terror offences.