The Australian women's national football team will earn the same pay as their male counterparts and have an equal split of commercial revenues for the first time under a new deal, according to local media reports in Australia.

The deal will become the first of its kind from a major nation and set a precedent for equal pay in men's and women's professional football.

As is the case with most nations men's and women's teams, the Socceroos have historically been paid more than The Matildas, and earned a greater share of commercial revenues. For comparison, the US women's team received $4 million for winning the World Cup in France this summer out of the tournament's total prize-money pool of $30 million, with France banking $38 million from a pool of $400 million after winning the men's version in 2018.

But for the first time in history, players have reportedly agreed a deal in principle with governing body Football Federation Australia to strike a deal to ensure pay parity, Sydney's Daily Telegraph said.

The move comes after The Matildas launched a campaign to pressure FIFA to provide equal prize-money at World Cups ahead of the women's tournament in France earlier this year and the US women's team sued governing body US Soccer in March over alleged gender discrimination in earnings and working conditions.