The England and Wales Cricket Board has approved a 150% increase in prize money available to county sides.
The move comes as the game's governing body tries to utilise the rise of Twenty20 to benefit the wider game.
The 2009 County Championship winners could pocket £500,000 compared to the £100,000 received by Durham this year.
"It was important to increase the prize fund available on the back of the opportunities provided by Twenty20," said ECB chief executive David Collier.
"We were particularly anxious to increase the money that was available for the winners of the County Championship to £500,000.
"This reflects the ECB's commitment to the LV County Championship and the npower Test matches as the pinnacle of the game.
"These increases reward both players and counties and in a difficult economic climate demonstrate the strength of cricket and our confidence in the domestic game."
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So far the major injection of new finances has mainly been diverted back into the shortest form of the game and concerns had been raised about the future importance of first-class and Test cricket.
However, the ECB have responded by showing a new financial commitment to the four-day game by awarding the winning county's playing staff £350,000, with an additional £150,000 being paid to the club itself.
The total amount the counties will receive will rise to £1.06m, with next season's runners-up set to receive £225,000 instead of the £40,000 that was on offer in 2008.
The total amount of cash paid to the counties will rise to £1.06m and the runners-up next summer will also cash in, with their prize pot up to £225,000 from just £40,000.
Winners of the Pro40 championship and the Friends Provident Trophy victors will also see significant increases in prize money.
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