The increase was announced by the Secretary of state for Education Gavin Williamson, and will see the amount per secondary pupil on the county going up from £4,906 to £5,105.
The primary school amount will go up from £4,059 to £4,252.
The county's Conservative MPs have welcomed the money, although Daniel Kawczynski, MP for Shrewsbury & Atcham said he wants future funding to match that received by urban areas.
Mr Kawczynski said: "We have worked hard to secure these above-inflation increases for investment for Shropshire schools.
"If re-elected this will continue to be my number one priority going forward as despite these increases, we still do not receive anything like the amount inner city areas do.
"Shropshire education results are much better than the national average and that's down to the hard work of our local teachers who deserve increasing financial support for the important work they do."
Ludlow MP Philip Dunne said the county's MPs have been unanimous in their approach to lobbying for more funding.
He said: “The county’s MPs have been of one voice in telling government to increase funding for our local schools, and have campaigned for years to make clear the additional costs on schools like ours from rurality.
"So this boost is really welcome news for schools, pupils and parents, and shows the PM is making good on his commitment to increase and make fairer per pupil funding across the country.”
Mark Pritchard, MP for the Wrekin, said the announcement would mean more money for pupils in Telford & Wrekin.
He said: "Every child in Telford and Wrekin deserves the best possible education.
“The 4.83 per cent per pupil funding boost next year will mean that every school in Telford and Wrekin will receive a budget increase, giving teachers, parents and pupils the certainty to plan for the future.
“This new funding will also target those schools which need the most support, so every local parent can be sure their children are getting a world class education regardless of their background.”
Announcing the funding increase Secretary of State for Education Gavin Williamson said: “Our schools do a brilliant job and I want parents and teachers to know that we’ve listened to them and are investing in our children’s futures.
"That’s why this Government has announced the biggest funding boost for schools in a decade which will give every school more money for every child - with the biggest increases going to the schools that need it most."