According to Mundo Deportivo, the German manager has given the green light to a deal that extends his current contract — due to expire in 2027 — by one year, with an option for a further season tied to performance-related criteria.
His agent, Pini Zahavi, will meet with the club next week to finalise the remaining details.
Flick, 61, joined Barcelona in the summer of 2024 and has won four trophies in two seasons: LaLiga, the Copa del Rey, and two Spanish Super Cups. A second consecutive league title now appears a near-certainty.
President Joan Laporta, re-elected in March, has been public about his desire to keep Flick for the duration of his presidency.
"We want to renew Flick's deal until 2028. He's in favour of extending as well. We will announce an agreement soon because he's very happy here."
Flick has consistently stated that Barcelona will be the final posting of his coaching career.
"Everyone knows I am really happy here. I have no thoughts about going to another place or anything like that. I am here — it will be my last club and I am happy about it."
The option year beyond 2028 is understood to be activated only if certain objectives are met, with the league title among the likely conditions.
Laporta has expressed a wider ambition — that Flick will remain in post until the end of his own presidential term in 2031. Whether that materialises will depend on performances in Europe, where Barcelona have fallen short despite their domestic dominance.
Zahavi's meeting next week will also touch on the future of another client, Robert Lewandowski, whose contract situation at the club remains unresolved.
The extension, once signed, will give the club one of the clearest lines of managerial continuity in European football — a significant asset as they prepare for a summer of significant squad investment.