The Colton Building consists of nine classrooms, a meeting room and associated student facilities.
It is named in honour of the Chairperson of the Boards of the College, the Right Reverend Paul Colton, Bishop of Cork, Cloyne and Ross.
Speaking at the school, the Minister said: "I'm delighted to open these new classrooms, and see the range of improvements which the school has carried out over the last few years.
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"The commitment to upgrading facilities shows the school team's commitment to their students and to education in general.
"There are fantastic facilities available here now for the whole school community to avail of.
"I want to thank everyone who has been involved with getting the project to this stage, particularly the principal, the Board of Management, the Patron, and all the staff and parents."
Midleton College was founded in 1696 and opened in 1717. It has functioned continually as a school since then and is a co-educational boarding and day school with a Church of Ireland ethos.
During his visit to County Cork, Minister Quinn also opened a €500,000 extension in Cork city's Mount Mercy College and visited St John the Baptist school in Midleton.
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