His total pay for the year to September 25 was $98.7m, up from $14.7m, the Silicon Valley giant revealed in a US filing.
The rise was largely down to an $82m share award Mr Cook received under a shake-up of his pay scheme.
Apple said the sum was a reflection of the company’s success under his leadership: “The amount recognises his exceptional leadership and is commensurate with the size, performance, and profitability Apple has achieved during his tenure.”
Mr Cook celebrated a decade running Apple last year and the company changed how he was paid after the expiry of a 10-year package awarded when he succeeded Steve Jobs.
The majority of Mr Cook’s compensation over the past decade has been under his 2011 pay package, which involved him receiving tranches of shares over the course of the following decade.
He recently cashed in those shares for $750m, a sum inflated by Apple’s dramatic share price rise under his leadership.
His $98.7m pay package last year, by contrast, covered 2021 alone. He was paid a $3m salary and the rest in cash incentives and benefits. The company spent $712,488 on private flights, having deemed it a security risk for him to fly commercially in 2017.
Apple’s shares rose by 1,174pc over Mr Cook’s first decade in charge, compared to 363pc for the S&P 500.
The stock has since risen even further and, earlier this week, Apple became the first company to cross a $3 trillion market capitalisation.
Speculation about Apple’s succession planning has intensified as Mr Cook, 61, reached 10 years in charge.
He said last year that he did not imagine running the company for another decade, but that there was not a date in sight for his departure.
His most likely successor is thought to be Apple’s chief operating officer Jeff Williams, who occupies the role Mr Cook filled under Mr Jobs.
Apple said Mr Cook’s pay was 1,447 times that of the median Apple employee, paid $68,254. Most of its employees are in its retail stores.