That's a 23% raise from 2014.
His compensation includes $14.5 million in stock and a $1.5 million salary, according to Bloomberg.
Moynihan's pay package last year was $13 million.
Bank of America's share price dropped nearly 6% over the course of 2015. The S&P 500, by comparison, dropped 3.5%.
Last fall, Moynihan won a proxy battle over whether or not he could retain his "chairman" title in addition to his CEO role.
In the end, 63% of shareholder voters were in favor of him keeping both titles.
In January, Bank of America reported full-year earnings that were its highest in nearly a decade.
The firm reported full-year net income of $15.9 billion.