Javier Mascherano has signed his contract extension at Barcelona, having agreed a deal in July, with Neymar set to follow suit later this week.
Barcelona took to their official Twitter page to confirm that Neymar will sign the deal at a contract ceremony on Friday.
However, Mascherano put pen to paper on Monday, watched by Barcelona president Josep Maria Bartomeu, vice president Jordi Mestre and sporting director Robert Fernandez.
"Neymar was also close to a spell at Manchester United, but he extended his contract to earn less at Barcelona because he wanted to stay at Barcelona".
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Neymar has committed his long-term future to Barcelona.
Argentina's Javier Mascherano (L) talks with Brazil's Neymar Jr.at the end of the Russian Federation 2018 FIFA World Cup South American Qualifiers football match.
Paris Saint-Germain was among the clubs reportedly trying to sign him.
Since his move to Barca from Santos in 2013, Neymar has won two La Liga titles and a UEFA Champions League.
This season, having arrived back late from winning the Olympic football tournament on home soil with Brazil for the first time, he has netted five goals in eight fixtures.