Sergio Busquets is set to pen new terms with Barcelona today.
The 25-year-old Spain international has spent his entire senior career at Barca and has made 238 appearances to date for the Catalan club.
"Sergio Busquets will sign a contract renewal this Tuesday lunchtime which will keep him at the club until June 30, 2018, with the option of a further year," read the statement.
"His buy-out clause is set at 150 million euros.
"The club and the player reached agreement on the new deal on July 16 - the day Busquets celebrated his 25th birthday."
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