Twenty-one players are now centrally contracted to ECB - four of those on Rookie Contracts.
Davies said: "I'm absolutely thrilled to receive my first full contract. It's always been my aim to represent England and this is an exciting step in the right direction.
"I’m looking forward to continuing the hard work, and the challenge now of getting myself picked."
Alongside Davies, Surrey's Bryony Smith, who received her first call-up to the senior team for last year's tri-series against India and Australia, is now on a Rookie Contract.
Smith is joined on the Rookie list by Linsey Smith, Alice Davidson-Richards and Katie George.
Tash Farrant and Beth Langston have been released, while Dani Hazell announced her retirement from the international game last month.
Farrant turned professional in 2014 and Langston in 2017, and between them the seamers made 21 appearances for England across ODI and IT20 cricket, taking 15 wickets.
Langston was part of the squad that won the ICC Women's World Cup while Farrant's most recent tour saw England finish as runners-up in the ICC Women's World T20.
The new contracts signify a higher level of remuneration for England Women, continuing the trend since the women's game turned professional in 2014.
The overall salary pot has grown by 10 per cent on 2018, with several players receiving an increase of between 15 and 30 per cent on their 2018 salary. The bonus pot for bi-lateral series wins has also been increased by 25 per cent.
Tammy Beaumont (Kent)
Katherine Brunt (Yorkshire)
Kate Cross (Lancashire)
Freya Davies (Sussex)
Sophie Ecclestone (Lancashire)
Georgia Elwiss (Sussex)
Jenny Gunn (Warwickshire)
Alex Hartley (Lancashire)
Amy Jones (Warwickshire)
Heather Knight (Berkshire)
Laura Marsh (Kent)
Nat Sciver (Surrey)
Anya Shrubsole (Somerset)
Sarah Taylor (Sussex)
Fran Wilson (Kent)
Lauren Winfield (Yorkshire)
Danni Wyatt (Sussex)
Alice Davidson-Richards (Kent)*
Katie George (Hampshire)*
Bryony Smith (Surrey)*
Linsey Smith (Sussex)*
*Denotes rookie contract
© Cricket World 2019