We investigate top quark pair production near the threshold where the pair invariant mass $M_{tbar{t}}$ approaches $2m_t$, which provides sensitive observables to extract the top quark mass $m_t$. Using the effective field theory methods, we derive a factorization and resummation formula for kinematic distributions in the threshold limit up to the next-to-leading power, which resums higher order Coulomb corrections to all orders in the strong coupling constant. Our formula is similar to those in the literature but differs in several important aspects. We apply our formula to the $M_{tbar{t}}$ distribution, as well as to the double differential cross section with respect to $M_{tbar{t}}$ and the rapidity of the $tbar{t}$ pair. We find that the resummation effects significantly increase the cross sections near the threshold, and lead to predictions better compatible with experimental data than the fixed-order ones. We demonstrate that incorporating resummation effects in the top quark mass determination can shift the extracted value of $m_t$ by as large as 1.4 GeV. The shift is much larger than the estimated uncertainties in previous experimental studies, and leads to a value of the top quark pole mass more consistent with the current world average.
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