The Tour's top competitors have committed to playing against each other at least 20 times a year, while the bonus pool for the Player Impact Programme (PIP) has been doubled to 100million US dollars (£84.7million).
The 20 events are made up of the four majors, the Players Championship, 12 "elevated" tournaments on the PGA Tour - with an average purse of 20million US dollars (£17million) - and three other events chosen by the players.
Players are also guaranteed minimum earnings of 500,000 dollars (£423,000), which can be taken up front by rookies, while lower-ranked players will receive a travel stipend of 5,000 dollars (£4,230) for each missed cut.
"Our top players are firmly behind the Tour, helping us deliver an unmatched product to our fans, who will be all but guaranteed to see the best players competing against each other in 20 events or more throughout the season," Monahan said.
"This is an extraordinary and unprecedented commitment, a testament to who these guys are and what they believe in."
For the 2022-23 season, a "top player" will be those who finish in the top 20 under the current PIP and players who finish in the top 20 under the revised criteria of internet searches, general awareness, golf fan awareness, media mentions and broadcast exposure.
Asked if LIV Golf players who were impressed by the changes and wanted to return would have their suspensions lifted, Monahan said: "No.
"They've joined the LIV Golf Series and they've made that commitment. For most of them, they've made multi-year commitments.
"As I've been clear throughout, every player has a choice, and I respect their choice, but they've made it. We've made ours. We're going to continue to focus on the things that we control and get stronger and stronger."