Racing Queensland will increase prize money non-TAB country race meetings by $550,000 annually from Saturday.

RQ chairman Steve Wilson said the increases were finalised after consultation with the Country Racing Advisory Panel.

Wilson said minimum prize money for all non-TAB thoroughbred races would rise to $7450 with the payment for winning increasing to $5000.

"The prize money increases for both non-TAB and TAB thoroughbred racing aim to directly improve cash flow and industry viability for participants and owners," Wilson said.

"It is hoped the recent announcements will help lift confidence within the Queensland industry and make it more attractive to race a horse at any of Queensland's 120 thoroughbred clubs."