About $60 million of the contract is guaranteed. The deal will keep the wideout in Detroit through 2019.
The $132 million deal tops the $120 million handed out by the Arizona Cardinals to receiver Larry Fitzgerald, and its $60 million guarantee is also the highest in league history, The Detroit News reported.
"He's the only guy I know who on his birthday decides to give a gift to the city of Detroit, the Lions organization and NFL fans everywhere," he said.
"I am very appreciative and ready to work," Johnson added. "I am going to come with the same attitude I've always had."
Johnson hauled down 96 passes for 1,681 yards with 16 touchdowns last season. Over his five-year career with Detroit, the Georgia Tech product has made 366 grabs for 5,872 yards and 49 scores.
Jessica Simpson shares three-way kiss with friends in photo
Scarlett Johansson steps out with fiance after pregnancy reveal