The European Club Football Landscape report said revenues among Europe's 700-odd top-flight clubs totalled $22.7 billion for 2016, compared to $20.69 billion the year before and $3.43 billion in 1996.
English clubs Tottenham Hotspur and Manchester United ranked second and third in the UEFA report, with bottom-line profits of 44 million euros and 34 million euros respectively.
English Premier League television revenues were now such that mid-table Bournemouth earned the same as three-times European champions Inter Milan.
In England the record for the level of wages is "Manchester United" - 321 million euros, which is 2.1 times more than the average salary of other clubs in the local Premier League.
- Bayern Munich, Paris Saint-Germain and Manchester City are the other clubs to record in excess of €500m revenue.
United were also burdened with the highest net debt of 561m euros, ahead of Benfica, Inter, Juventus and Liverpool.
Uefa's report also found that the Premier League and Championship continued to top the list of foreign club ownership last season.
Next was Germany's Bundesliga with 149.6 million per club followed by Spain (126.3 million) and Italy (100.2 million) Revenues fell dramatically elsewhere, even in traditional football nations such as the Netherlands (26.7 million) and Portugal (20.3 million).
"As the guardians of the game, UEFA must ensure that football remains competitive even as financial gaps are augmented by globalisation and technological change".
Bournemouth earned 99m euros, level with Inter who, along with Juventus, were the only Serie A sides in the top 20.
Title winners Newcastle United's 1-1 draw with Leeds United saw the league's highest attendance of the season, with more than 52,000 fans taking their seat at St James' Park.
Sixteen of the top 20 clubs in terms of domestic broadcast revenues were English with United top on 146m euros, edging out Real and Barcelona.