Balde has been with the Catalan giants since the age of eight, progressing through the various youth sides before making his first-team debut in 2021.
The 19-year-old has been a vital player for Barcelona during the 2022-23 campaign, making 12 appearances in La Liga, in addition to featuring on four occasions in the Champions League.
Balde's current deal at Camp Nou is due to expire in June 2024, but a recent report claimed that the La Liga giants were planning to offer him a new long-term contract.
Cruyff has now confirmed that Barcelona are working to secure the left-back's future.
"We are happy with his development, we have been working on renewing his contract for a long time and the relationship with his agents is perfect. The player is grateful to Barcelona and Barcelona is grateful to him," Cruyff told RAC1.
Balde earned a call into the Spain squad for the 2022 World Cup after Jose Gaya was withdrawn from the selection due to injury.
The defender has been involved in both of his side's games at the competition in Qatar, coming off the bench against Costa Rica and Germany respectively.
Speaking in the middle of September, Barcelona boss lavished praise on Balde, claiming that he has been 'amazed' by the teenager's performances this season.
"He has great quality and character. It never ceases to amaze me that an 18-year-old can play at that level," said the 42-year-old.
"Physically he is amazing and he is going to give us a lot. We have three left-backs at an extraordinary level, with Jordi [Alba] and Marcos [Alonso] as well."
During a recent Q&A with Mundo Deportivo on TikTok, Balde named Manchester United when asked what other club he would want to represent if he was not at Barcelona.
However, there are no indications that the Red Devils are interested nor that the teenager is considering leaving Camp Nou at this stage of his career.
Barcelona are said to be keen to insert a £1bn release clause into the proposed new deal for Balde to protect his future.
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