That puts Brown's salary at more than $15 million. Brown has one year left on his current deal and will probably become the league's highest-paid receiver on his next contract.
Brown was obviously happy with the agreement, tweeting out "Steelers for life", after the deal was announced.
The first year of Brown's new deal replaces the final year of his previous one, meaning that he's under contract through the 2021 season.
The team made sure Bell's rights will remain with them on Monday when they placed an exclusive rights franchise tender on the former All-Pro running back.
Speculation that Brown may not be long in Pittsburgh after the wide receiver filmed the Steelers' locker room scene on Facebook Live after their divisional round win over the Kansas City Chiefs this season.
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Brown has appeared in 101 regular-season games with 74 starts in his National Football League career, and ranks second on the Steelers' all-time receptions list (632), third in receiving yards (8,377), fourth in touchdown catches (50), and fifth in yards from scrimmage (8,496) and combined touchdowns (55).
Brown is likely deserving of this distinction after racking up 481 catches for 6,315 yards and 43 touchdowns over the last four years.
In terms of the long-term deal potential with the Steelers and Bell, it could be more financially responsible for them to franchise tag him the next two seasons than meet his demands. Bell also rushed for 167 and 170 yards respectively in Pittsburgh's first two postseason games.
But for the third consecutive season, Bell ended the season with injury.