Neymar will sign a new contract with Barcelona on Friday, said the club.
The Brazilian will be initialled for five years – until June 2021. Clause prior termination of the contract for the first year is 200 million euros, the second 222 million and for the remaining three is 250 million.
According to media reports, Neymar will receive an annual salary 15 million euros.
This contract striker with Barcelona expires in 2018. Last season the Brazilian has played 49 games for Barcelona and recording 31 goals and 27 assists.
Barcelona has announced the renewal of the contract of Neymar yet on July 1, but the formal signing of the contract is delayed because the player was involved with the Olympic national team of Brazil and its participation in the Olympics in Rio de Janeiro.