The Portuguese star has been expected to commit to a new deal for some time and could put pen to paper on Tuesday, having agreed most details with the European champions.
Cristiano Ronaldo will sign a new contract with Real Madrid, keeping him tied to the club until June 2021, Marca reports.
The Portuguese star is set to put pen to paper when his agent, Jorge Mendes, meets with Madrid directors in the coming days.
Ronaldo will remain Madrid’s highest paid player as most details have been finalised, though the duration could be changed before it is signed – potentially as early as Monday.
The 31-year-old guided Los Blancos to an 11th Champions League crown last season before winning Euro 2016 with Portugal.
He has scored seven goals in 11 games in all competitions this season.