According to social media marketing firm Hopper HQ, Johnson, 48, can charge advertisers roughly $1,015,000 for a sponsored post.
Last year, BBC reported that Jenner, 22, made roughly $1.2 million on a sponsored post.
As of publication, Johnson has 189 million followers while Jenner has 183 million.
Hopper HQ began publishing a list of highest-earning stars in 2017 after speaking with celebrities and Internet personalities – known as influencers – to determine how much they were being paid, as well as speaking with advertisers to estimate how much could be charged for a post.
Exact amounts often aren’t known due to relative secrecy among marketers and influencers.
Jenner now sits at number two at an estimated $986,000 per post.
Also on this year’s list were pro soccer player Cristiano Ronaldo – who charged about $889,000 per post – and Jenner’s sister Kim Kardashian, who could charge $858,000. Ariana Grande rounds out the top five, charging about $853,000.