Pedri will sign the new deal Friday with president Laporta before holding a news conference
Barcelona's teenage midfielder Pedri has agreed a new contract until 2026 including a release clause of 1bn euros ($1.16bn), the LaLiga club announced Thursday.
Pedri, 18, has quickly developed into one of Barca's best players little more than a year after joining the club in 2020 from second division side Las Palmas for five million euros.
He made 53 appearances in his debut season, more than any other Barca player, helping the team win the Copa del Rey and lighting up an otherwise poor campaign for the Catalans.
Pedri then played a major role in Spain's path to the Euro 2020 semi-finals, becoming his country's youngest player at a major finals and being chosen in Uefa's team of the tournament and voted best young player.
He then helped Spain win the silver medal at the Olympic Games and ended the campaign with 74 appearances, more than any player in Europe.
Pedri will sign the new deal Friday with president Joan Laporta before holding a news conference.