The average farm income has increased by 30% from 2016, according to Teagasc.
Its annual review has shown that while the performance of farming in 2017 is a case of "mixed fortunes", there was a clear sign today that some recovery has been made.
The average farm income is up approximately 30% from 2016 to just under €32,000.
While all sectors from beef to pigs, sheep and tillage are all showing growth, dairy farmers are reaping the most financial benefits.
Looking ahead to 2018, Teagasc has, however, warned there may be a slight drop in average dairy farm incomes due to a weakening in Irish farm milk prices.
One issue that continues to signal uncertainty for all farmers is the ongoing Brexit negotiations but Teagasc says it is too early to tell what kind of impact it could have on Irish exports.
Despite some decline on margins expected next year, it has predicted that export growth will be slightly higher, with a push to target more international markets.