Thirteen men were killed when British troops opened fire on a group of civil rights demonstrators in the Bogside district of Londonderry on 30 January 1972.
The payments, which range from £250 to more than £16,500, were being made "in a spirit of goodwill and conciliation", the Ministry of Defence said.
The widow of one of the victims and mother of eight children, Mrs Ita McKinney, is to receive more than £13,000 from the government.
She said: "I will accept the money on behalf of my children. It will not make any difference to my life. I have lost my husband, things will still be the same."
The Rt Hon Lord Saville of Newdigate is the chaiman of a Tribunal of Enquiry established in 1998 by Tony Blair into the events on Sunday 30 January 1972 which led to loss of life in connection with the procession in Londonderry on that day, taking account of any new information relevant to events on that day.
The last of the 900 witnesses to the Tribunal was heard in January 2005.
On the 12 August 2005 a Press release was issued - Final Report - The report is currently in preparation.
"Tessa Jowell, let slip on BBC TV's Sunday AM programme that "the latest estimate )of costs of the Savile enquiry) . . . is about £400 million"
Downing Street and ministers joined together in claiming that the "awful" cost of the Bloody Sunday inquiry as a reason for rejecting growing demands from the relatives of victims and Muslim leaders for an official enquiry into the 7/7 bombings.
On Wednesday, 19 November 2008 the Northern Ireland Secretary Shaun Woodward said that the Saville enquiry will not publish its findings for at least another year.