The iconic singer, whom Fox Entertainment President Kevin Reilly revealed as the newest addition to the hit Fox franchise Monday, will be raking in a record paycheck to dispense her musical wisdom and help find America's next big talent.
"Mariah is getting paid $18 million with a one-year option to do 'Idol,' making her the highest paid judge on any music competition show," an "American Idol" source told Us Weekly.
The singer, 42, is even reportedly beating out her predecessor, Jennifer Lopez, in the salary department – Lopez was reportedly paid a $12 million for her first season, and then $15 million for her second season.
Unconfirmed sources said that Lopez was then rebuffed when she requested a raise to return for a third season.
Fellow singing competition show divas Christina Aguilera and Britney Spears aren't faring too badly themselves, pulling in $10 million and $16 million for their stints on "The Voice" and "The X Factor," respectively.
Earlier this month, judges Steven Tyler and Lopez both announced their departures from the show within days of each other, citing a desire to refocus on their careers.
"I honestly feel that the time has come that I have to get back to doing the other things that I do that I put kind of on hold because I love 'Idol' so much," Lopez told Ryan Seacrest on his radio show July 13.
"I could keep just doing 'Idol' for the rest of my life, but that would be giving up a bunch of other things. We had an amazing run."
For now, however, Carey is undaunted about the prospect of major multitasking and has expressed only excitement over joining the "Idol" team.
"As a singer, songwriter and producer, it's going to be fun and rewarding to help find new talent and give back to 'American Idol,'" she said in a statement.
"I'm currently in the studio working on my new album and its first single, 'Triumphant,' which will be out early next month. I can't wait to channel my creative energy as a part of this show which is a massive global phenomenon."