The Mail on Sunday says Giggs will be offered a new contract at Manchester United as a reward for quitting international football.
Giggs, 33, brought down the curtain on playing for Wales in June in the hope that it would prolong his United career and "keep me fresh".
Manager Sir Alex Ferguson is set to repay him with a 12-month extension when his current deal runs out next summer.
The club plan to offer ambassadorial roles to both Giggs and Ole Gunnar Solskjaer after they hang up their boots, although Giggs is also believed to hold managerial ambitions.
Today the winger will unveil the six preferred charities United are to back for the next three years.