The £40,000 prize will apply to the Betfred.com World Championship.
Robert Milkins won the £1,500 prize for qualifying events with his maximum in the world qualifiers so that will go back to £500 at the start of next season.
The rolling prizes are in three different pots:
TV stages of major ranking events (£5,000 per event)
Pre-TV stages of major ranking events (£500 per event)
Last 128 onwards of PTC events (£500 per event)
Should more than one player achieve a 147 during a single event, the prize will be shared equally between the players.
WPBSA Chairman Jason Ferguson said: "It is well acknowledged that a 147 is always a special moment in our sport. A lot of players felt that the prize should be reinstated and I'm pleased that we have been able to acheive this. It's a new and exciting system for the 147 prize and could make things very interesting if it rolls over for five or six tournaments."
Ball by ball scoring and results from tournaments