Chase signed a four-year extension worth $161 million (£124.5m) with $112 million (£86.6m) guaranteed - making him the highest-paid wide receiver in NFL history.
Higgins signed a four-year extension as well worth $115 million (£89m), making him the second-highest-paid wide receiver ever behind Chase.
Chase is coming off of a career year where he earned the famous Triple Crown for receivers - leading the league in receptions (127), receiving yards (1,708), and receiving touchdowns (17). He was elected First-Team All-Pro for the first time in his career.
Higgins is also coming off of a great year himself - putting up 911 yards and a career-high 10 receiving touchdowns on 73 receptions.
With quarterback Joe Burrow averaging $55 million (£42.5m) per year, this will now mean the Bengals have around $125 million invested between the three players on a yearly average.