World number one Tiger Woods will receive a first prize of £750,000 ($1.51 million) if he retains his British Open title at Carnoustie later this month, an increase of £30,000 on Hoylake last year.
Total prize money has gone up £200,000 to £4.2m, the Royal & Ancient (R&A) organizers said on the Open's official Web site on Tuesday.
"Equating to $8.4 million, this increased prize money reflects our goal of maintaining the position of the Open at the forefront of world golf," said R&A chief executive Peter Dawson.
Britain's Paul Lawrie, who won the coveted Claret Jug when the third major of the year was last played at the Scottish course in 1999, picked up a cheque for £350,000 from a total prize fund of $2 million.
American Tom Watson earned £7,500 when he defeated Australia's Jack Newton in a playoff in the 1975 edition at Carnoustie.
Local final qualifying (LFQ) for the British Open takes place at Downfield, Monifieth, Montrose and Panmure on July 9-10.
The field for each LFQ will be 96 players, with the top three at every venue qualifying for the first round at Carnoustie on July 19.
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