Lundkvist will make $1.25 million while Bourque will earn $950,000.
The two were set to become restricted free agents at the start of the free agency period on July 1st.
Lundkvist posted just five assists in 39 games after he received season-ending shoulder surgery. Meanwhile, Bourque impressed as a rookie, scoring 11 times while putting up 14 assists in 73 games this past year.
Borque was selected 30th overall by the Stars in the 2020 NHL Draft while Lundkvist came over from the New York Rangers as part of a trade with Dallas in 2022. The Rangers ended up receiving the Stars' 2023 first-round pick and a conditional 2025 fourth-round as part of the deal.
Prior to the 2025 NHL Draft next week, Dallas also signed veteran Matt Duchene to a four-year deal worth $18.5 million and also traded forward Mason Marchment to the Seattle Kraken in exchange for a 2025 fourth-round pick and a 2026 third-round pick.
Dallas' season came to an end this year after losing in five games to the Edmonton Oilers during the Western Conference Final.