The top women's players in The Hundred will now earn £50,000 after the ECB allocated an extra £100,000 to each of the eight teams in the competition.
Last year the top salary was £31,250, which represented an increase from £15,000 from the competition's inaugural 2021 edition.
All salary bands have increased with the lowest earners to now be paid £8,000.
Salaries in the men's tournament, in which players are paid between £30,000 and £125,000, remain frozen.
The announcement on Friday coincided with the opening of the retention window ahead of The Hundred's fourth year.
Teams in the women's competition can retain a maximum of eight players, while teams in the men's are able to retain a maximum of 10.
In the women's competition, the open market process is no longer in place so all picks must now be via selection, the draft and wildcard draft.
Each team in the women's competition will nominate one player as a 'designated marquee player' who, if required, can be replaced by a fourth overseas or a domestic player.
In the men's tournament, the increase in the number of England Men's Centrally Contracted players from eight to 17 means teams can retain one such player as their nominated Central Contract player as the 16th member of the squad in the top salary band.
The nominated Central Contract player can be replaced by either a fourth overseas player or a domestic player if unavailable.
The fixtures for this summer's 2024 competition are released on Tuesday January 23.
