Visiting Wales on the campaign trail, he said Labour never guaranteed a funding "floor" during its years in power in Westminster.
Mr Osborne said the Welsh economy had grown faster than any other part of the UK under the coalition government.
He told BBC Radio Wales voters should "stick to the plan that's delivering that".
Mr Osborne said: "The Welsh government criticised almost all the economic policies we have announced, said it would lead to unemployment in Wales - in fact we've created 50,000 jobs in Wales and youth unemployment has halved.
"I'm responsible for the UK economic policy which has created an environment for the whole of the UK where jobs are coming here, investment is coming here and we're able to make the big commitments to the M4, to the electrification of the railways, to improvements to transport in north Wales.
"The Welsh economy has grown faster than any other part of the UK and I think that's a huge cause for celebration - let's stick to the plan that's delivering that."
Mr Osborne promised negotiations with the Welsh government over the funding settlement, but could not yet confirm the exact level.
"This is a historic moment - the Labour party were in charge at Westminster for years and never committed to this," he said.
Political party general election campaigning will concentrate on public spending and the economy on Friday.
Meanwhile, as the campaign carries on around Wales, the Liberal Democrats are accusing Labour of not addressing complaints Wales is short-changed after Shadow Chancellor Ed Balls said on Wednesday, only Labour can provide "fair funding".
Plaid Cymru will set out plans to boost the construction industry.
Chancellor George Osborne has restated his pledge to negotiate Wales' funding deal if the Tories win the election.