Rio Ferdinand will sign a one-year extension to his contract at Manchester United this week.
The deal - approved by incoming manager David Moyes - ends any doubts over the future of the 34-year-old, who would have been out of contract next month.
Ferdinand announced his retirement from international football on Wednesday, a move which he hopes will allow him to prolong his career at Old Trafford.
The central defender won his sixth Premier League title this season, reports the BBC.
Earlier this month, retiring Manchester United manager Alex Ferguson said Ferdinand had had his best season for the club and would be offered a new deal.
The defender has made 33 appearances for United this campaign, including 27 in the Premier League, more than any of the club's other centre-backs.
His contribution to Manchester United's Premier League title success saw him voted into the Professional Footballers' Association's team of the year by his peers.
The former West Ham United and Leeds United defender, who was capped 81 times by England, joined United in July 2002 for £30m, making him the world's most expensive defender.
He has made 431 appearances for United, with a Champions League triumph and two League Cup wins to add to his six Premier League titles.