CBC reported that each deal is worth $28 million.
The Sedin twins have spent their entire careers with the Canucks and combined for 1,583 points. Henrik, a former Hart Trophy winner, is the franchise's all-time leading scorer with 810 points, while Daniel is second with 773.
They were due to become unrestricted free agents at the end of the season. They were in the final year of five-year, $30.5 million contracts.
The Sedins lead the Canucks in scoring this season, with Henrik tops with 18 points and Daniel with 15. They have led the team in scoring every season since 2006-07.