Chase, who was a teammate of Cincinnati quarterback Joe Burrow at LSU in 2019, has 268 receptions for 3,717 yards and 29 touchdowns, leading the team in each category in each of the past three seasons.
Last season, Chase had a career-high 100 receptions, tying for the second most in a season in team history, for 1,216 yards and seven TDs.
Tee Higgins, the team's No. 2 receiver who was drafted the year before Chase, will play this season with the franchise tag, keeping him in Cincinnati for at least one more season. He'll make $21.8 million.
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