The winner of this year's British Open Championship will collect a record $3 million in prize money, the R&A announced on Wednesday.
It will be the highest amount in the tournament's history, with an 18 per cent increase from 2022, which was won by Australian Cameron Smith.
"Our aim is to ensure The Open remains at the pinnacle of world golf and we have almost doubled the prize fund since 2016," the CEO of R&A Martin Slumbers said in a statement.
"While we are seeing substantial increases in prize money across the men's professional game, we are fulfilling our wider obligation to the sport by elevating the AIG Women's Open, strengthening pathways in the elite amateur game and encouraging more people around the world to play golf.
"We believe that getting this balance right is vital to the long-term future of the sport."
The sport's oldest championship will boost their prize fund further if more than 70 professional golfers qualify for the final two rounds.
This year's championship, the 151st, will be played at Royal Liverpool from July 20-23.