Callum Hudson-Odoi has agreed a five-year deal worth more than £100,000 a week to stay at Chelsea.
The England winger, 18, handed in a transfer request in January after Chelsea rejected a £35m bid from Bayern Munich.
But he is set to sign a new contract before the start of the season.
The youngster is understood to have been encouraged by positive words from new manager Frank Lampard, who said he wanted Hudson-Odoi to stay.
The teenager, who is recovering from an Achilles injury suffered in April, is on track for a quick return to action, potentially as soon as September.
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Nesaiknruy_Legend
66
Once the official announcement comes out I will say the things I have to say but for now this is assuring as usually its rare for newspapers to say positive things about our club so it must be true to some extent... step in the right direction for young Callum as he will play once he is back....