Communications, Energy and Natural Resources Minister Pat Rabbitte revealed the figure in a written reply to a Dáil question.
He said the vast majority of the revenue is retained in the localised communities where the angling activity occurs.
“The economic importance of the sector is underlined by the fact that it sustainably supports more than 10,000 jobs in rural and peripheral communities particularly in the West of Ireland,” he said.
Tommy Broughan, TD, had asked the minister for a detailed breakdown of the numbers of people participating in sea, coarse and game angling and the amount of revenue generated for the exchequer from each activity.
Mr Rabbitte said it is intended to publish, in the coming weeks, the results of the most comprehensive national survey and analysis ever undertaken of the recreational angling sector.
He said the Inland Fisheries Ireland, who commissioned the study, advised him the initial results indicate there are 406,000 participants in angling across all species with many targeting more than one species.