This year's Masters will pay out a record $20 million in prize money with $3.6 million going to Sunday's winner of the green jacket, Augusta National announced on Sunday.

The purse total surpasses last year's $18 million total, from which Spanish winner Jon Rahm took home $3.24 million.

Just two years ago, Augusta National jumped the prize money from $11.4 million to $15 million for the 2022 Masters won by Scottie Scheffler, the current world number one who shares the 36-hole Masters lead with fellow Americans Max Homa and Bryson DeChambeau.

This year's Masters runner-up will receive $2.16 million with third place paying $1.36 million.

But the total Masters payout is still eclipsed by events in the Saudi-backed LIV Golf League while the PGA Tour's Players Championship offered a $25 million purse last month, from which Scheffler won the top prize of $4.5 million.

A decade ago, the Masters' purse was just over $9 million.