The one-year contracts offered last month by the Pakistan Cricket Board to a total of 20 players award the elite group a monthly salary of 200,000 rupees ($3,352) on top of match and tour fees.
"Younis and Afridi have performed outstandingly since last winter and deserved this promotion," PCB Chairman Shaharyar Khan told Wednesday.
The two join captain Inzamam-ul-Haq, Yousuf Youhana, Shoaib Akhtar and Abdul Razzaq as the highest paid performers.
Younis has appeared in 37 Test matches and 118 One-day internationals, scoring three centuries in his last four tests.
The flamboyant Afridi, who has played in 208 One-dayers and 19 tests, scored the second fastest hundred in One-day history against India in April.
Pakistan started awarding central contracts to its players last November in a bid to maintain a close watch on their fitness levels and discourage them from playing abroad in the off-season.
Khan added that other consistent performers had also been given pay rises and new contracts, which are divided into three categories.
The second tier group receive a monthly salary of 125,000 rupees and those in the third get 75,000.
($1 = 59.6 rupees)