Prior's promotion means that he is the first England wicketkeeper for three years to hold a full central contract.
The contracts run from 1 October 2009 until 30 September 2010.
National selector Geoff Miller said: "I am delighted that Graham Onions, Matt Prior and Graeme Swann have all been awarded 12-month central contracts for the first time.
"Central contracts are designed to reward players who perform well consistently for England and all three have made a very significant contribution to the team's recent success in regaining the Ashes and beating West Indies at home in both Test and one-day series.
"Following his retirement from Test cricket, Andrew Flintoff is no longer eligible for a 12-month central contract.
Prior and Swann have become regulars for England in both Tests and ODIs
"The decision to award an incremental contract to Andrew reflects our view that he will still have an important role to play in our one-day side and we wish him well with his rehabilitation from injury. He remains a world-class talent.
"The award of increment contracts to Bresnan, Rashid and Trott is in recognition of the excellent start they have all made to their international careers."
Former skipper Michael Vaughan, who had held a full central contract for 2008/09, retired from cricket on 30 June.
Last year, players delayed signing their central contracts until January when the ECB agreed to release them to play in the Indian Premier League.
England central contracts: James Anderson, Ian Bell, Stuart Broad, Paul Collingwood, Alastair Cook, Graham Onions, Kevin Pietersen, Matt Prior, Ryan Sidebottom, Andrew Strauss, Graeme Swann.
Increment contracts: Ravi Bopara, Tim Bresnan, Andrew Flintoff, Adil Rashid, Owais Shah, Jonathan Trott, Luke Wright.
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