The MLS Players' Union released the salary numbers for 2014 which shows that the reigning MVP will now earn over $400,000 after putting pen to a fresh deal.
Last year, Magee earned just under $200,000 after beginning the campaign with the LA Galaxy before moving to his hometown club via a trade in May.
Upon signing the deal, 29-year old forward Magee was in a positive mood as he seeks to achieve plenty of success at Toyota Park.
"As a kid, I would have paid to play for the Chicago Fire, so, as you can imagine, I'm beyond happy to have signed a new deal," Magee said in a statement.
"My only goal with this team is to win an MLS Cup."
Magee jumped from being Chicago's 10th-highest-paid player to the top, bypassing Bakary Soumare's $370,000 annual salary and Patrick Nyarko's $284,000.
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