The two Maoists, allegedly involved in the killing of Majhi on September 24, 2011 while he was distributing land pattas among tribals in his constituency as an MLA, were identified as Satyam Paude and Jani Salem.
Majhi's killing had necessitated a by-election in Umarkote assembly segment at Nabarangpur district.
The Crime Branch of Odisha Police, which has been probing into the incident, announced the reward for anybody who could help in nabbing or provide information leading to the arrest of the two Maoists.