Valencia will announce Jose Luis Gaya’s new five-year contract on Friday, according to Marca.
Los Che have made tying the left-back down to a long-term commitment a priority in the wake of speculation linking him with Real Madrid.
Since then, there have been several meetings between the club and player, and the newspaper claims an agreement has now been reached.
The improved terms will begin on June 30 and are worth an estimated €1.5m per season, backed by a €50m release clause – a significant upgrade from the reported €18m.
It marks a bold turnaround from Valencia’s perspective, given that they suspended talks with the 19-year-old’s representatives a month ago.
Gaya, who replaced Bayern Munich-bound Juan Bernat at the beginning of the season, has made 34 appearances for Nuno Santo’s troops so far in 2014-15.
