Asia's football body on Thursday said it was doubling prize money for the AFC Champions League finalists next year, with the eventual winners taking home $3 million.

The runners-up in Asia's club showpiece will win $1.5 million, while the winners of the second-tier AFC Cup will get $1 million, up from the current $350,000.

"The increases in prize money in both the AFC Champions League and AFC Cup will further increase the appeal of these competitions," Asian Football Confederation general secretary Windsor John said in a statement.

"This is a significant boost and investment in the future of club football in Asia and will make competition for both continental titles even fiercer than before."

The AFC added that clubs in the Champions League stand to gain more than $3.5 million in performance bonuses.

China's Guangzhou Evergrande, managed by World Cup-winning coach Luiz Felipe Scolari, won this year's Champions League while Malaysia's Johor Darul Ta'zim clinched the AFC Cup.