Justin Herbert - AFC Wild Card Playoffs - Los Angeles Chargers v Jacksonville Jaguars
JACKSONVILLE, FLORIDA - Justin Herbert (#10) of the Los Angeles Chargers throws a pass against the Jacksonville Jaguars during the second half of the game in the AFC Wild Card playoff game at TIAA Bank Field on January 14, 2023 in Jacksonville, Florida. Douglas P. DeFelice/Getty Images

The Los Angeles Chargers have re-signed superstar quarterback Justin Herbert to a massive five-year extension worth $262.5 million, which will keep him with the Bolts until the conclusion of the 2029 NFL season. The deal has $218.7 million in guaranteed money.

The lucrative deal makes Herbert the highest-paid quarterback in NFL history based on an average annual value of $52.5 million, according to ESPN.

The Chargers drafted the Eugene, Oregon native with the sixth overall pick of the 2020 NFL Draft. He quickly made an impact in the league, winning the NFL Offensive Rookie of the Year award.

Herbert set all-time rookie records for completions (396), passing touchdowns (31), combined scores (36), and 300-yard performances (8) in the 2020 NFL season.

The 2021 Pro Bowl selection was also the youngest player in history to throw 30 touchdowns in a single season at 22 years and 299 days old.

The former Oregon player also holds several records for a player in his first three seasons, including the most passing yards and total touchdowns.

Herbert will make an NFL record $100 million in the 2025 season, which is the first year of his new deal, per Front Office Sports.

Justin Herbert becomes third superstar QB to sign mega extension

The 25-year-old is the third superstar quarterback to sign a lucrative five-year extension this offseason.

His agreement is slightly higher than Lamar Jackson's $260 million deal with the Baltimore Ravens and Jalen Hurts' contract with the Philadelphia Eagles worth $255 million. Both deals were signed last April.