The 2021 Open Championship champion will bank over $2 million (£1.4 million) for the first time, tournament organisers announced on Thursday.
With the total prize money at the British Open rising to $11.5 million, the winner of the famous Claret Jug will earn $2.07 million.
That is an increase from the $1.93 million taken home by Ireland's Shane Lowry when he won the event in 2019.
"We have increased the prize fund for The Open this year and believe that it fully reflects the Championship's stature in world sport," Royal and Ancient chief executive Martin Slumbers said.
"As the only men's major championship played outside of America, The Open has a global role to play and we are determined to continue to attract the top players.
"We are further enhancing the status of our professional championships at the same time as making good progress towards our investment of £200 million over 10 years in growing golf around the world."
After the 2020 Open was cancelled due to the coronavirus, this year's tournament runs from 15-18 July in Sandwich in southern England.