The FA have agreed a £5m ($7.21m/EUR8.1m) cash-pot - with players each set to pocket £200,000 ($288,500/EUR326,320) if they were to win the tournament, which kicks off on May 31, jointly hosted in South Korea and Japan.
FA marketing director Paul Barber said: "There has been good dialogue with the players over a number of weeks.
"We are delighted to have concluded the deal well before the World Cup."
Negotiations are now taking place for players to be used as part of England sponsors' World Cup campaigns.
The English Football Association (FA) has agreed a multi-million dollar bonus package with the England soccer team.
