A multi-year funding package of up to £500 million is needed in the north to meet a pledge to make up learning lost during the pandemic.
All pupils are back in classrooms having spent lengthy periods studying from home in the last two academic years.
Prime Minister Boris Johnson said establishing a long-term plan for pupil catch up was "the biggest priority".
He said no child should be left behind and government would "plug the gaps in education".
Analysis released today by the Education Policy Institute (EPI) shows that between £10-15 billion is required across Britain and Northern Ireland.
Based on initial economic modelling of the impact of school closures, the research findings reveal the scale of the funding response needed from the government to deliver on its commitments for pupils in England.
EPI's preliminary analysis also outlines the level of money required in Scotland, Wales and Northern Ireland.
It shows that £1bn-£1.5bn is needed to support pupils in Scotland, £600m-£900m in Wales and £350m-£500m in the north.
The modelling set out in the paper shows that, without ambitious funding and interventions which tackle the scale of lost education, there are likely to be severe long-run consequences for young people's schooling, earnings and life chances, which would in turn bring damage to the wider economy.
The report said policymakers in Northern Ireland would need to respond to "an ongoing review of educational under-achievement".
It noted that a high emphasis had already been placed on a resumption of youth services in light of recent violence.
"Pupils in Northern Ireland have faced huge challenges after over a year of disruption to their education," said EPI research fellow Luke Sibieta.
"The education minister has indicated that officials are now accelerating plans for catch up support - it's vital that as well as short-term support, we also see a vision for a long-term programme of education recovery.
"Our analysis indicates that in order to meet the scale of the challenge of pupil learning loss, Northern Ireland would require a total funding package of £350m-£500m. While this level of education funding is significant, it will prove essential to averting the long-run effects of the pandemic and safeguarding young people's futures."
EPI Chief Executive Natalie Perera said getting the long-term education recovery package right was "a critical moment".
"This analysis shows that if the prime minister is to meet his key pledge to make good the learning losses seen by pupils, an ambitious, multi-year funding package of £10bn-£15bn is required. A final settlement which fails to meet this level would not only let down millions of young people, but could also spell serious consequences for the future economy," she said.
