The PNG Olympic Committee (PNGOC) said 99 percent of payments have been made, at a cost of close to K4 million.
Out of 500 athletes, 495 of them have been paid.
PNGOC received funding from the PNG Government for the payments in early September and has since been processing these for athletes who won medals.
The remaining one percent, five athletes, are yet to sort arrangements with their sports on agreements and contracts covering them under their programs.
PNG won a total of 217 medals - 88 gold, 69 silver and 60 bronze.