St Andrews has recently hosted the men's Open at five-year intervals

The tournament, which takes place from 2-5 August, is in an LPGA Tour schedule which features a minimum of 35 events and record prize money of nearly �29m.

The average prize purse at each tournament is up by 9.62% on this season's events.

Meanwhile the LPGA Tour will become the first major Tour to test players for drugs from the 2008 season.

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The men's European and PGA Tours do not operate such programmes at the moment.

LPGA commissioner Carolyn Bivens said: "We've no evidence of performance-enhancing drug use by our players but recognise the need to have a programme in place.

"We will work to establish a policy to focus on the protection of the health and safety of our members and ensure no-one has an artificial advantage."

Bivens added that she was excited about the prospects for next season.

"This year has showcased an emergence of young stars and a re-emergence of dominant veterans," she said.

"It has been one of the most competitive and compelling seasons in the history of the LPGA.

"However, with three new events in 2007, the return of the Solheim Cup and the LPGA's first ever visit to St Andrews, I am confident next year will be even more exciting."