The Russian writer moved to a home on Ukraine's Black Sea coast in Yalta in 1898 after he was diagnosed with tuberculosis, which he battled until his death in 1904.
The property, where Chekhov wrote his plays The Cherry Orchard and Three Sisters, was turned into a museum in 1921 but it has since crumbled due to lack of funding from the government.
Schindler's List star Fiennes has donated funds to restore the landmark and is even planning a trip to Ukraine to learn more about Chekhov.
He says, "Chekhov is one of the greatest humanist writers of the modern era. The preservation of his home in Yalta is to be celebrated. It's distressing to think the Ukrainian government would not acknowledge this and support it. It would be inspirational to know all parties who believe in the Chekhov's legacy are working together.
"I look forward to visiting Ukraine and meeting Ukrainian (and Russian) actors and directors to exchange ideas on Chekhov. His work should provoke a greater understanding of all that we have in common."