Around 580 European clubs will share a total of €100 million euros, with €60m being split between those that released players for the finals in Poland and Ukraine and 40 million going to clubs whose players featured in the qualification phase.
The decision was taken following a proposal by the European Club Association and was approved by UEFA's executive committee on Saturday.
The total pot is almost twice as much as the €55m distributed after Euro 2008 in Austria and Switzerland.
"Thanks to an excellent cooperation between UEFA and the ECA, today's decision will benefit the whole football family and help shape a good and solid future for football in Europe," UEFA president Michel Platini said.
ECA chairman Karl-Heinz Rummenigge added: "The increase from 55m to 100m clearly recognises the significant contribution clubs make to the success of the tournament.
"It will not only benefit around 580 clubs, but football as a whole."