Infantino, who was elected on Feb. 26, will also get a "car and lodging free of charge during his term and contribution to expenses in accordance with FIFA’s expenses regulations," FIFA said in a statement.
He is also entitled to bonus payments, though there would not be any this year because the bonus system had been open to "dysfunction and abuse" and needed to be reformed, FIFA said.
"Bonus payments from 2017 onwards will be awarded in accordance with objective criteria related to FIFA’s mission and operations as well as the outcome of the organisational reforms, now being implemented," said the statement.
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FIFA secretary general Fatma Samoura will be paid 1.3 million Swiss francs per year plus the same benefits as Infantino, FIFA said.
"The FIFA president's annual compensation represents less than 25 percent of his predecessor’s compensation (average 2010-2015 including bonus)," said the statement.
FIFA had said in June that Blatter and two other leading officials were involved in a "coordinated attempt" to enrich themselves through annual salary increases and World Cup bonuses.
FIFA said an internal investigation revealed that the three officials, who also included former secretary general Jerome Valcke and ex-finance director Markus Kattner, had received 79 million Swiss francs in compensation over five years.
“Given misunderstandings and misrepresentations concerning this process and my compensation, I am pleased that this matter is resolved and that I have a signed, valid employment agreement," said Infantino.
"I am determined that abuses of the system will not happen under my presidency.”
Tomaz Vesel, head of FIFA's compensation sub-committee, said the amounts were "absolutely appropriate considering the challenging duties" which Infantino and Samoura faced.
"The FIFA president plays a key role as the leader of FIFA," said Vesel. "He leads the organisation, setting its overall strategy with a clear mission to develop and protect the game. He also has a great responsibility in the reform process that has begun in FIFA."
(Writing by Brian Homewood; Editing by Ken Ferris)
