Women footballers playing for Australia's national team will earn the same as their male counterparts under a deal announced today, which has been hailed as a landmark for gender equality in sport.

Under a new centralised contract system announced by Football Federation Australia (FFA), women's team stars such as Sam Kerr and Ellie Carpenter will be paid the same as men's team players like Aaron Mooy and Mat Ryan.

They will also be afforded business class flights to international fixtures and tournaments as the men’s team have been.

The breakthrough will be a big boost for America's women footballers, who have filed an equal pay lawsuit against the US Soccer Federation due to be heard in May next year.

The United States triumphed at the Women's World Cup in France this year with chants of "equal pay" ringing out after they defeated the Netherlands in the final.

"Football is the game for everyone, and this new collective bargaining agreement is another huge step toward ensuring that we live the values of equality, inclusivity and opportunity," said FFA chairman Chris Nikou.

Under the four-year deal through the next World Cup cycles the teams – known as the 'Socceroos' and the 'Matildas' - will receive a 24% share of national team revenues, rising by 1% each year.

In other words, the better they do, the more they get paid.

FFA chief David Gallop said it was the men's team's choice to share the revenue, and national captain Mark Milligan said women were getting "what they deserve".

"It's been clear for everybody how much the women's game has grown over the past few years and how well our Matildas have been doing," he said, adding that the success of the World Cup in France, where the Matildas were knocked out on penalties in the last 16, underscored this.

"It really drove home for me in these negotiations that they got what they deserved. Going forward, what a value they are to the Australian football community."

From the national revenues, the players have agreed to plough 5% back into Australian youth national teams, guaranteeing a minimum level of investment for future generations.

There has also been a 10% increase in players' share of prize money earned on qualifying for a World Cup.

Matildas midfielder Elise Kellond-Knight said the deal showed "respect" towards women.

"As a female footballer, it's kind of what we always dreamed of," she said.

It follows a more general deal struck earlier this year that will see all professional female footballers in Australia receive the same minimum wage as their male counterparts.

Professional Footballers Australia chief John Didulica called the agreement "unique" in world football.

"We believe it sets the model for where all federations and players -- male and female -- can take the game to unlock the incredible social and commercial opportunity that, in particular, women's football presents," he said.

Australia has emerged as a champion for equality in the sports arena with netballers and women cricketers also winning better pay deals in recent years.