The 33-year-old has been locked in negotiations with Rosella Sensi all summer, as he wanted to ensure the new deal stretches to 10 years.
"We have signed the contract. We are now only waiting for Roma to deposit it," Totti explained.
"By now I am moving towards the end of my career, but right of this minute I am not really thinking about stopping.
"I also signed for another five years so I am very focused on my career."