Confederation of African Football (CAF) will give Senegal a sum of $5 million for winning the 2021 Africa Cup of Nations in Cameroon last Sunday.
The Teranga Lions won their first-ever AFCON title after beating seven-time champions, Egypt on a penalties.
The new prize money for eventual champions of the competition has been increased by $500,000 from the previous prize in the 2019 edition.
The runner-up which is Egypt will get $2.75 million while the semi-finalists Cameroon and Burkina Faso will take home $2.2 million and $1.175 million respectively.
The quarter-finalists – Gambia, Morocco, Tunisia, and Equatorial Guinea will take home $1.175 million.
Meanwhile, Senegal have rewarded each member of the national football team with cash prizes and plots of land for winning the AFCON.
Each team member received over $87,000 (£64,000) and plots in the capital, Dakar, and in the neighbouring Diamniadio city during a ceremony at the presidential palace.
President Macky Sall also appointed the team to the Senegal’s prestigious Order of the Lion, with fans cheering outside the gates.
It declared Monday a national public holiday to celebrate the fete.