The winners of Euro 2004 could bank as much as £12million ($20m/EUR17.5m) with a record amount of total prize money on offer, up 66 percent on Euro 2000 from £52.4m ($87.4m/EUR76.6m) to £87.3m ($145.6m/EUR127.6m).
Each country that qualifies for Euro 2004 will be paid £3.3m, with nearly £500,000 awarded for a first-round win.
The eight quarter-finalists will each receive a further £1.3m, with another £1.7m on offer for the semi-finalists.
The winners get a further £4.4m, while the runners-up will be awarded £2.6m.
The decisions were taken by UEFA's executive committee and announced after their two-day meeting in Kiev.
Soccer governing body UEFA has announced an increase in prize money for next year's Euro 2004 tournament in Portugal.
