Every player at next month's Women's World Cup is guaranteed to earn at least $30,000, FIFA says, with the winners taking home $270,000.
Women's football is at an all-time high but there have been concerns from players that its growing popularity is not reflected in what they earn, especially compared to men.
The World Cup in Australia and New Zealand kicks off on July 20 and when it does players from the 32 teams are guaranteed at least $30,000.
That amount increases depending on how far teams go in the tournament, which concludes on August 20.
The average club salary of women players is $14,000, according to FIFA, a fraction of what their counterparts in men's football earn.
FIFA says the ring-fencing of money for players is a first and its investment is three times what it was at the Women's World Cup in France four years ago.
The global players' union FIFPro welcomed the move, saying that FIFA had "listened to the voice of the players".
"We have taken steps towards greater gender equity in our game at its highest levels," FIFPro said.
"The legacy of this action is by the players, for the players, of both today and tomorrow."
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