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The 22-year-old midfielder's existing deal had been due to expire at the end of this season and he will sign his new agreement in the coming days.
The terms will also include a €30 million release clause, which could climb to €40m.
He has since made 20 first-team appearances in the Spanish top-flight, most recently coming off the bench during Barca's 3-0 victory over Elche last month.
