The Matildas will earn the same pay as Socceroos players under a landmark deal set to be announced by Football Federation Australia.
The deal will give the Matildas an equal share of commercial revenue with their male counterparts.
The FFA says it has been in talks with the players' union for many months, but the negotiations are yet to be finalised.
An official announcement is expected later this week.
Talismanic Matildas captain Sam Kerr told Channel Seven she was excited at the prospect of equal pay.
"Obviously it's a welcome investment into women's football and we're really excited about it," she said.
"It hasn't been finalised so hopefully we can get the deal over the edge, but yeah, it's exciting."
The Matildas have been consistently high-performers on the world stage in recent years, climbing as high as fourth in the world in 2017.
During the World Cup earlier this year the women's team reached the knockout stages, taking home $1 million for their efforts.
The Socceroos, meanwhile, failed to win a single game but pocketed $8 million for simply qualifying.
The deal would make the Matildas the world's first female football team to be guaranteed the same revenue as the men's team.
