There are 50 places available for athletes in the county to be on the programme in 2013.
Athletes selected for the programme will receive between £100 and £1,000 according to their level and up to £20,000 will be distributed overall.
A panel will be held in December to review all of the applications and applicants will be told if they are successful before Christmas.
Managed by Lincolnshire Sports Partnership, LEAP provides funding and support for talented athletes in the county who are hoping to compete at future Olympic or Paralympic Games.
Rachel Belcher, LEAP Project Officer at Lincolnshire Sports Partnership, said: “We are delighted to have so many athletes apply to be on the programme next year. With the success of the London 2012 Games we hope to help many more athletes achieve their sporting goals for the future.”
Funding and support for LEAP has been secured through Lincolnshire County Council, University of Lincoln, SportsAid, North Kesteven District Council, East Lindsey District Council, West Lindsey District Council, Adam Gibbon’s Sport Foundation Fund, The Showroom, Soper of Lincoln and members of Lincolnshire Sports Partnership’s Corporate Club.