Marks & Spencer chief executive Stuart Rose received £3.6m in salary and bonuses last year, up 68% on a year ago, the High Street chain has said.
Mr Rose is credited with fending off a takeover attempt
The bumper remuneration package followed a resurgent 12 months for the firm, whose annual profits grew 28.5%.
Mr Rose saw his salary rise from £975,000 to £1.05m - and was given a £2.6m cash and shares bonus.
Under a long-term pay plan, he also stands to get the firm's maximum bonus of four times his salary - worth £4.2m.
M&S's annual report revealed that Mr Rose was in line for a further £8m in cash and shares if the firm continued to grow profits at 10% or more.
Mr Rose is widely credited for turning around the company's fortunes when he took over in 2004, saving M&S from a takeover by millionaire entrepreneur and Arcadia owner Sir Philip Green.
M&S made £965.2m in the year to the end of March 2007, up from £751.4m the previous year.
The improved performance was driven by stronger demand for M&S food and clothing, which was supported by an advertising campaign featuring 1960s model Twiggy, singers Myleene Klass and Bryan Ferry, and other celebrities.
Overall the company paid bonuses of about £91m - which included £1.3m to finance director Ian Dyson and head of marketing Steven Sharp.