Dynamic equations for quantum fields far from equilibrium are derived by use of functional renormalisation group techniques. The obtained equations are non-perturbative and lead substantially beyond mean-field and quantum Boltzmann type approximations. The approach is based on a regularised version of the generating functional for correlation functions where times greater than a chosen cutoff time are suppressed. As a central result, a time evolution equation for the non-equilibrium effective action is derived, and the time evolution of the Green functions is computed within a vertex expansion. It is shown that this agrees with the dynamics derived from the 1/N -expansion of the two-particle irreducible effective action.PACS numbers: 03.75. Kk, 05.10.Cc, 05.70.Ln, Introduction. Far-from-equilibrium quantum field dynamics is one of the most challenging issues both in experimental and theoretical physics to date. Experiments exhibiting quantum statistical effects in the time evolution of many-body systems are extremely demanding. In particular, the preparation of ultracold atomic Bose and Fermi gases in various trapping environments allows to precisely study quantum many-body dynamics of strongly correlated systems, see, e.g., Refs.[1]. In recent years, the field has attracted researchers from a variety of disciplines, ranging from condensed-matter to highenergy particle physics and cosmology. Nonequilibrium field theory to date is dominated by semi-classical mean-field approaches which are in general only valid for weak interactions or large occupation numbers. For strongly correlated quantum systems methods are available predominantly for systems in one spatial dimension and include the Density Matrix Renormalisation Group methods, see e.g. [2], as well as techniques for exactly solvable models [3]. Non-perturbative approximations of the two-particle irreducible (2PI) effective action [4] have been intensively studied and applied to nonequilibrium dynamics [5,6,7,8,9,10,11] and are applicable also in more than one dimension. In field theory, they also provide a way to study strongly correlated fermions beyond mean-field and Boltzmann approximations [8]. Like these, the results presented here are expected to be of high relevance, e.g., for the description of ultracold degenerate Fermi gases close to the BEC-BCS crossover [12].In this paper we derive dynamic equations for quantum fields far from equilibrium. As a central result, we derive a new time evolution equation for the non-equilibrium effective action by use of functional renormalisation group (RG) techniques, cf. Refs. [13,14,15,16], as well as [17] for non-equilibrium applications. This exact and closed evolution equation allows for non-perturbative approximations that lead substantially beyond mean-field and quantum Boltzmann type approaches: it can be rewritten, in a closed form, as a hierarchy of dynamical equations for Green functions, and this hierarchy admits truncations that neither explicitly nor implicitly rely on small bare couplings or close-to...