The executives have been running production at the studio since 2003 and overseen titles such as the Spider-Man franchise, Casino Royale, Superbad, The Da Vinci Code, Hitch, Ghost Rider and many others.
Studio sources said since 2003 releases under Belgrad and Tolmach's tenure have grossed approximately $7.6bn and 25 films have opened at number one in North America including the recent release Vantage Point.
Belgrad and Tolmach will continue to oversee studio productions and will continue to report to studio co-chairman Amy Pascal and Sony Pictures Entertainment chairman and chief executive officer Michael Lynton.
Pascal said the pair had 'made Columbia Pictures a first-stop destination, a place where film-makers, writers, and actors want to bring their best projects', while Lynton praised their versatility and commercial and artistic sensibilities.
This year's slate includes You Don't Mess With The Zohan starring Adam Sandler, Hancock with Will Smith, Step Brothers starring Will Ferrell, the 22nd James Bond adventure Quantum Of Solace starring Daniel Craig, and The International with Clive Owen.
Belgrad and Tolmach and their production team are also in pre-production on as Angels & Demons starring Tom Hanks, the remake of The Taking of Pelham One Two Three to star Denzel Washington and John Travolta, Roland Emmerich's 2012 and Spider-Man 4.