The FAI has confirmed that senior men's and women's international players will receive equal match fees.
International captains Seamus Coleman and Katie McCabe helped broker the groundbreaking agreement, along with FAI CEO Jonathan Hill and Ciaran Medlar - advisor to the male and female international players.
In effect, the men's team have agreed to see their match fees lowered, with the FAI making up the remaining gap between the men and women.
Senior female and male players will receive exactly the same match fee starting with the September international window.
Vera Pauw's side begin their World Cup qualifying campaign away to Georgia on September 17.
While Stephen Kenny's squad resume their Qatar 2022 qualification quest against Portugal in Faro on Wednesday (September 1).
McCabe welcomed the move, hailing the relationship between the women's team and the FAI as the strongest it's ever been.
"This is a great day for Irish football," she said, "We have taken a huge step forward with this deal and have shown the world what can be achieved through unity as we offer male and female international players the same opportunities.
"I am very proud as Ireland captain of the work that has been put in to get us to this point, not just by the current team but by so many Irish players in the past.
"They are the real heroes in this story, they took a stand and they passed on the baton to the current generation.
"Seamus Coleman and his team-mates in the senior sen’s squad also deserve credit for being brave enough to support us in such a progressive way on this issue. It is really appreciated."
Coleman added, "We are delighted as players to do what we can to ensure that our female international players are treated equally and fairly and we remain fully committed to doing whatever we can to achieve that goal together.
"This deal is the right one for everyone who plays international football for Ireland, no matter which team they represent.
"We have been working towards this agreement for some time now with Katie, Jonathan and Ciaran and I hope this acts as an inspiration to many other nations to follow suit.”