The winners of the competition in 2024 will receive £430,000 compared to £100,000 when Chelsea won the trophy last term.
The FA board has approved an additional investment of £3 million, bringing the total prize fund for the FA Cup to £6m.
The latest development means a significant financial boost for clubs competing from the third round onwards for the 2023-24 season.
Teams competing in the third round will now access a prize pot of £44,000 per game, which is a significant increase on the £12,500 pot allocated for the same round last term.
The final prize pot for the competition has also been increased from £150,000 to £538,000.
The new financial uplift comes after a ten-fold increase last year, which brought the total prize fund to £3m.
The first round of the FA Cup will commence this weekend, but the Women’s Super League teams will join the competition in round four.
The interest in the women’s game has increased in the last few years. The Women’s FA Cup final last season saw a record crowd of 77,390, who turned out to watch Chelsea beat Manchester 1-0 at Wembley Stadium.
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