Dhoni has entered into a two-year deal with Rhiti Sports Management and Mindscapes worth $42m, which will manage the Indian skipper's long list of endorsements and brand associations, corporate profile, patents and digital rights, images, visibility on social networking sites and merchandise through a joint venture.
"We signed the contract a week back. From now onwards we will be handling Dhoni's endorsements," Rhiti general manager Sanjay Pandey told the Press Trust of India news agency.
The deal surpasses that made made by batsman Sachin Tendulkar with sports management firm Iconix - worth $40m over three years from 2006.
The Indian cricket captain was acclaimed throughout the country for winning the first ICC Twenty20 World Cup trophy in 2007.
Often described as India's most eligible bachelor, he married his childhood sweetheart Sakshi Singh Rawat at a private ceremony outside the northern town of Dehradun last week.
Currently, Dhoni is the country's most expensive sportsperson and is associated with 22 brands such as PepsiCo, Reebok, Aircel, Godrej and Hersheys.
A Forbes study last year said that said that Dhoni was the world's richest cricketer with an annual earning of $10m, followed by Tendulkar at $8m.
