UEFA announced that total income from the tournament would be 1,250 million Swiss francs (817 million euros). The 16 teams will be awarded a definite fixed payment of 7.5 million Swiss francs, a 56 percent increase on Euro 2000.
An extra 1 million Swiss francs will be paid out for every victory and 500,000 Swiss francs for every draw in the group phase, replacing the previous system which based prize money on final group positions.
Quarter-finalists will pick up an additional 3 million Swiss francs, a further 4 million payment for reaching the semi-finals and the winners and runners-up will be awarded 10 million and 6 million respectively.
If the eventual champions won all three group games they would pick up total prize money of 27.5 million Swiss francs, almost double the 14.4 million Swiss francs France earned when winning Euro 2000.
A total figure of around 200 million Swiss francs will be paid out to the 16
"We have moved on to a higher level and this is visible in the commercial results," said UEFA's chief executive Lars-Christer Olsson.
The total expenditure of UEFA and Portugal to host the tournament is around 350 million Swiss francs.
A further 300 million Swiss francs will be banked by UEFA in order to cover its own costs for the next three years, the majority of which will go into financing youth and women's tournaments.