President Uhuru Kenyatta will award Sh1 million to Gold medalists who participated in the concluded 2020 Tokyo Olympics.
Those who won silver will be given Sh750,000 and Sh500,000 for Bronze medalists.
Kenya got four golds, four silvers and two bronze.
This means that double Olympic marathon champion Eliud Kipchoge, Peres Jepchirchir, Faith Kipyegon and Emmanuel Korir will receive Sh1 million each.
For the silver category, Timothy Cheruiyot, Ferguson Rotich, Hellen Obiri and Brigid Kosgei will each get Sh750,000 as Hyvin Kiyeng and Benjamin Kigen will get Sh500,000 in the Bronze category.
Uhuru announced this when he received representatives of the triumphant Kenyan contingent to the 2020 Tokyo Olympics.
"The Head of State further announced a uniform token of Sh200,000 for all athletes and officials, including the Paralympics team, participating in delayed Summer Games," he said.
The President thanked the Olympians for their outstanding performances that saw Kenya top the African medal chart.
He challenged the sporting fraternity to ensure the country continues to excel on the global stage.
Emmanuel Korir pulled off a massive sprint in the last lap of the men's 800m to clinch Kenya's first gold at the Olympics.
Similarly, Rotich seemed to be missing out on a podium finish until less than 100m to the finish line when he sprinted to grab silver.
This moment of glory came just after Kiyeng could only contend with a bronze medal after coming third in the women's 3000m steeplechase.
Kigen won bronze after coming third in the 3,000m steeplechase.
Timothy Cheruiyot's silver in the men's 1,500m was the perfect shocker to many.
As the curtains come down on Tokyo, the 33rd edition of the Olympics world Champion Eliud Kipchoge won Kenya a gold medal clocking 2:08.38 in the men's marathon.
The victory hoisted Kipchoge to the front pages of history books as one of the very few to have defended their Olympic marathon titles back-to-back.
The Kenyan 2020 Olympic team arrived in the country on last Wednesday morning from Tokyo.
The government welcomed the team back home, lauding them for their good performance at the various competitions.
"Kenya through its sportswomen and men made history during the Tokyo Olympics 2020. We claimed our spot in the world and it is such moments that make us as a people proud to be Kenyan," Government spokesperson Cyrus Oguna said.
"To all our sportswomen and men who flew our flag high, we are so proud of you and your achievements. Whether you won or not, it is the courage you had in yourself to represent Kenya to the world that makes you special for being great brand ambassadors of our country Kenya."