Kings XI Punjab have paid $1.15 million for the left-arm quick for the lucrative 2014 tournament, expected to be played in April.
David Warner was taken for $978,000 by Sunrisers Hyderabad, where he'll be joined by Australian T20 opening partner Aaron Finch.
Mitchell Starc (Royal Challengers Bangalore), Australia T20 skipper George Bailey (Kings XI Punjab), Steve Smith (Rajasthan Royals) and BBL veteran Mike Hussey (Mumbai Indians) also pulled in big-money deals, while 39-year-old Aussie World T20 squad member Brad Hodge has gone for $426,000 to the Royals.
Kevin Pietersen's concerns over his sacking by the England board may have been eased by his $1.6 million price tag paid by the Delhi Daredevils.
And former India Test batsman Yuvraj Singh was taken for $2.48 million by Royal Challengers Bangalore.
THE INDIAN PREMIER LEAGUE'S MARQUEE PLAYER AUCTIONS ON WEDNESDAY:
* Yuvraj Singh (IND) $2.48 million by Royal Challengers Bangalore
* Kevin Pietersen (ENG) $1.6 million by Delhi Daredevils
* Mitchell Johnson (AUS) $1.15 million by Kings XI Punjab
* David Warner (AUS) $978,000 by Sunrisers Hyderabad
* Mitchell Starc (AUS) $890,000 by Royal Challengers Bangalore
* Michael Hussey (AUS) $880,000 by Mumbai Indians
* Aaron Finch (AUS) $712,000 by Sunrisers Hyderabad
* Steve Smith (AUS) $710,000 by Rajasthan Royals
* George Bailey (AUS) $577,000 by Kings XI Punjab
* Brad Hodge (AUS) $426,000 by Rajasthan Royals
* Shaun Marsh (AUS) $391,000 by Kings XI Punjab