Matthew Hudson-Smith has vowed to use the top-tier funding that he will receive from British Athletics next year "wisely".
The 20-year-old has been rewarded for his performances in 2014, which saw him win gold in the men's 4x400m relays at the Commonwealth Games and European Championships, as well as an individual silver in Zurich.
Having just started to study for a degree at the University of Worcester, Wolverhampton-born Hudson-Smith has admitted that his financial windfall was much needed for the good of his career.
"It's amazing being recognised by British Athletics. It's an amazing honour and nice to be rewarded and recognised for the work I've done this year," he told the Daily Star
"Now that I've gone to uni I think it would be very hard without funding. I hope to use that funding wisely so that I can improve."
Hudson-Smith is next expected to take to the track in February at the Sainsbury's Indoor Grand Prix in Birmingham.