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."
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