Serbia's Novak Djokovic returns to Switzerland's Roger Federer during the men's singles final match on day eight of the ATP World Tour Finals tennis tournament in London on November 22, 2015. AFP PHOTO / GLYN KIRK (Photo credit should read GLYN KIRK/AFP/Getty Images)

This year's prize pool has once again increased, with the winner of the men's and women's singles earning an astonishing $3,400,000.

The total prize pool has increased to a total of $44 million for 2016, with $30 million going towards the men's and women's singles.

2016 Australian Open singles prize money:

Winner: $3,400,000

Finalist: $1,700,000

Semi-finalist: $750,000

Quarter-final: $375,000

Round of 16: $193,000

Round of 32: $108,000

Round of 64: $67,000

Round of 128: 38,500