India will receive almost a quarter of the total cash handed out by cricket's world governing body after challenging initial attempts to reduce their share.
The BCCI will receive $405m (£319m) over the cycle of 2016 to 2023 - three times more than England's $139m (£110m), the second largest share.
The International Cricket Council's board had voted 13-1 in favour of India being allocated $293m (£227m) in April.
That led to reports India were planning to boycott the Champions Trophy.
After the vote - on proposals for a new financial model intended to redistribute revenue more equally - the BCCI missed the deadline to name a squad for the tournament.
A team was later selected, with India eventually losing in the final to Pakistan, but a BCCI statement explaining the delay said its secretary Amitabh Choudhary would continue to negotiate with the ICC, adding that it was "keeping its legal options open".
The changes to the ICC's revenue distribution model, ratified by its full council on Thursday, will see South Africa, Sri Lanka, Pakistan, Bangladesh, New Zealand and West Indies receive $128m (£101m) each, while Zimbabwe will receive $94m (£74m).
Ireland and Afghanistan, who on Thursday were granted Test status, will share $240m (£189m) of funding with the ICC's associate members.
by BBC sports news correspondent Joe Wilson
There is a logic in some circles of Indian cricket which runs; 'if we generate 70% of income in the global game, shouldn't we get 70% of the revenue?'
It's an argument the ICC has had to confront, keeping India on board while trying to ensure some equity in financial distribution. After all, it is a global game (even if India - and the IPL in particular - is in a world of its own with a global marketplace within its own borders).
Thus it was back in April that the ICC board voted in a financial package that saw India take $293m over the next cycle. Discontent followed, as did mutterings of not participating in the Champions Trophy.
Now the compromise gives them $405m, which is significantly more, but nowhere near the figure approaching $600m hardliners may have wanted. Where does the extra money to distribute to India come from? After all, the ICC now has two new full members to fund.
Well, Ireland and Afghanistan will see their income increased dramatically but will still be a long way behind Zimbabwe. If not in cricketing terms, then in finances.