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Zurich: FIFA will pay $209 million to clubs releasing players for the 2018 World Cup in Russia and the same sum again for the 2022 tournament in Qatar, nearly three times the amount distributed in 2014.
"A total of $209 million will be distributed among the clubs releasing players to the participating teams in the 2018 FIFA World Cup (in Russia)," FIFA said in a statement on Friday.
"The same amount has been agreed for the 22nd edition to be staged in Qatar in 2022."
A total of $70 million was distributed to clubs who released players for last year's tournament in Brazil.
"The agreement puts the emphasis on fundamental principles such as the promotion of training and player development as well as the sporting integrity of the competitions, in the interests of the game and its appeal to the public," FIFA said.
"In addition, FIFA will continue with the Club Protection Programme, by which clubs are compensated for losses incurred due to players being injured while on international duty.
"The Club Protection Programme will therefore be extended to at least until after the end of the 2022 FIFA World Cup Qatar."
The announcement came one day after FIFA confirmed that the 2022 World Cup in Qatar would be staged in November and December.
The timing had set them on a collision course with European clubs who had said they would demand compensation.
The European Clubs Association (ECA), which represents more than 200 clubs, welcomed the agreement.
"In serious and fair negotiations, the ECA has agreed with FIFA on a transparent economic and organisational cooperation until 2022," ECA president Karl-Heinz Rummenigge said in a statement.
"For the first time, the European clubs will have a direct say on the international match calendar, which was very important to me personally.
"As a result, the ECA will be actively involved and contribute constructively to the design of the calendar, especially for 2022.
"Moreover, the World Cup club benefits will triple from $70m to $209m for the World Cups in 2018 and 2022. These payments will benefit clubs from around the world who release World Cup players to their respective national associations. From an ECA perspective, this agreement is a great achievement.
"It marks another milestone for club football as a whole."
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