We report on a magneto-photoluminescence (PL) study of Zeeman effect in Mn modulation-doped InAs/InGaAs/InAlAs quantum wells (QW). Two PL lines corresponding to the radiative recombination of photoelectrons with free and bound-on-Mn holes have been observed. In the presence of a magnetic field applied in the Faraday geometry, both lines split into two circularly polarized components. While temperature and magnetic field dependence of the splitting are well described by the Brillouin function, providing an evidence for exchange interaction with spin polarized manganese ions, the value of the splitting exceeds by two orders of magnitude the value of the giant Zeeman splitting estimated for the average Mn density in QW obtained by the secondary ion mass spectroscopy. (C) 2015 AIP Publishing LLC.