With both working on relatively low-cost contracts, the Heat, even with its desire to maximize its salary-cap space for 2010 free agency, decided to move forward.
Beasley, who will earn $4.6 million this season, his second in the league, is now guaranteed a $5 million salary in 2010-11.
Cook, who will earn $1.4 million this season, is now guaranteed $2.2 million for 2010-11.
"What they did this summer was terrific, the commitment they put in," coach Erik Spoelstra said after Tuesday's practice at AmericanAirlines Arena. "Daequan looks like a completely different player, and Michael has been great at two positions."
The two become the only players on the current roster locked into 2010-11 salaries.