The charges were brought on by two new accusers, bringing the total to 10 over a 15-year span.
Both of the new accusers were part of Sandusky's Second Mile charity.
One claims he was assaulted in 1997 and the other in 2004.
One of the accusers claims Sandusky molested him numerous times in Sandusky's basement bedroom. The accuser testified that on at least one occasion he screamed for help, knowing that Sandusky's wife was upstairs, but no one came to help him.
As in other cases, Sandusky allegedly gave the boys gifts and told them he loved them.
A release from Pennsylvania Attorney General Linda Kelly's office stated that the grand jury found during overnight stays at Sandusky's home, behavior such as hugging, rubbing, cuddling and tickling, initially viewed as acts of affection, escalated to sexual assaults.
The grand jury also found that additional sex acts were allegedly performed in the swimming pool and Jacuzzi of a hotel in the State College area, at times when the pool area was not occupied.
He is charged with four counts of involuntary deviate sexual intercourse and two counts of unlawful contact with a minor, all first-degree felonies which are each punishable by up to 20 years in prison and $25,000 fines.
Also, he is charged with one count of indecent assault and two counts of endangering the welfare of children, all third-degree felonies which are each punishable by up to seven years in prison and $15,000 fines.
Sandusky is also charged with one count of indecent assault and two counts of corruption of minors, all first-degree misdemeanors each punishable by up to five years in prison and $10,000 fines.
Sandusky's lawyer, Joseph Amendola, said his client is innocent.
Last week, Sandusky told the New York Times he did nothing illegal. His repeated denials have only emboldened his accusers.
His bail was set at $250,000. He will be under electronic monitoring and is not allowed to step onto Penn State property.
The Associated Press contributed to this report.