On the eve of his fourth NBA season, the Atlanta Hawks guard has agreed to a four-year rookie contract extension worth $152 million.
That works out to be $38 million a season, on par with Boomers teammate Josh Giddey's new salary at the Chicago Bulls.
It surpasses the deal of Philadelphia star and NFL champion Jordan Mailata ($33 million).
Ben Simmons, who signed a five-year, $270 million deal with Philadelphia in 2019, is out of contract and still without a deal ahead of the NBA season's first games on Wednesday (AEST).
Golfer Cameron Smith left the PGA Tour for LIV Golf in 2022 on a sign-up deal reportedly worth $140 million over four years, although the exact figure is not publicly available.
It leaves Daniels behind only McLaren's F1 championship leader Oscar Piastri ($41 million) on the list of Australia's biggest sporting contracts.
The new deal comes after Daniels, 22, was named the NBA's most improved player and finished runner-up in the defensive player of the year honours last season.
Traded from New Orleans, the Bendigo product relished his back-court partnership with Trae Young, who was among the first to congratulate his teammate on social media.
Daniels was the first to average more than three steals (3.01) per game since Alvin Robertson in 1991, had the most steals (229) in a season since Gary Payton in 1996, and the most deflections (443) ever recorded in an NBA season.
He was the first to tally at least 200 steals and 50 blocks (55) since Scottie Pippen in 1995, and the first guard to lead the league across those two statistics since Michael Jordan in 1988.
His defensive exploits - Daniels was the youngest player to have 200 steals - earned the Australian the nickname the "Great Barrier Thief".
But he also found his range offensively (14.1 points per game), scoring at least 10 points in 60 of his 76 games and having 12 20-plus games.
Missing selection for the Boomers' Tokyo bronze-medal campaign, Daniels' role grew considerably in Paris last year and he now firms, alongside Giddey, as the face of the program.
"We are beyond thrilled to reach a long-term deal with Dyson, and we are excited to watch him continue to grow with our group," Hawks general manager Onsi Saleh said in a statement.Â
"This extension reflects our belief in him today and into the future."
Quin Snyder's Hawks, eliminated at the second stage of the play-in tournament, were 40-42 in the last regular season.
They begin their season against Toronto on Thursday.
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