Gavi has signed a new deal with Barcelona through to 2026, with a buyout clause of $1 billion.
The 18-year-old midfielder has been a revelation since breaking through to the Barca first team and has become a key part of Xavi's side.
Gavi has already made 54 appearances in all competitions for the Blaugrana, having joined the club from Real Betis as a youngster in 2015 before emerging through the Catalan giants' famed La Masia.
He became the third-youngest goalscorer for Barca in December when he found the net in a 3-2 win against Elche.
Despite links with Premier League clubs due to his previous deal expiring in 2023, reports from Spain suggested the player was only ever interested in staying at the Camp Nou, where there will be a public signing event on the pitch on Thursday, the club has announced.
Gavi played an hour of Barca's 2-0 Champions League Group C defeat to Bayern Munich on Tuesday, before being replaced by Frenkie de Jong.