The 21-year-old has had an injury-free start to the 2024-25 campaign, making 17 appearances in all competitions, contributing three goals and two assists in the process.
Pedri is regarded as one of Barcelona's untouchables, with the midfielder not for sale under any circumstances, but his contract at Camp Nou is due to expire in June 2026.
The majority of the world's biggest clubs would be interested in the Spain international if it became apparent that he could be available for transfer, but Deco is confident that Barcelona will soon be able to provide some good news in relation to his future.
"To go for a renewal the first thing you have to know is what the players are looking for, and I think they are looking to win titles, be in a competitive team and, of course, have good contracts," Deco told Mundo Deportivo.
Deco is expecting Pedri to sign a new deal at Barcelona
"I thought that way and I think we have players who also think that way. I think Pedri's renewal will happen because I think Pedri wants to make history at the club, he feels comfortable here, he is happy, he wants to win titles.
"He is back at his best after working hard, understanding that there was work behind him that he had to do after so many years of suffering a lot with many games and injuries.
"He has understood it and has seen that he had to work in a different way, improve, and he was on time. We will do the renewal, he has this season and another one left. We are focused on winning important things this season, but also on guaranteeing the future of important players and Pedri is one of them."
Pedri has struggled with a number of injury problems during his time at Barcelona, with his worst-hit campaign proving to be 2021-22, when he missed 41 games in all competitions, but he was also sidelined for 19 games in 2022-23 and 25 last term.
Pedri 'viewed as cornerstone of Barcelona's future'
According to La Vanguardia, Barcelona president Joan Laporta views Pedri as 'one of the cornerstones' of the club's future, with the Catalan outfit therefore making a new contact for the Spaniard a priority.
The report claims that Gavi, Lamine Yamal and Pau Cubarsi are also seen as vital players for the club's future, with senior figures at Camp Nou confident that the team will again be La Liga and European champions in the near future due to their talented youngsters.
Gavi is also out of contract in June 2026, but Barcelona are said to be confident of signing the 20-year-old, who has only recently returned from a long-term knee injury, to a fresh deal.
Pedri and Cubarsi are currently with the Spain squad preparing for the national team's upcoming UEFA Nations League fixtures against Denmark and Switzerland, but Yamal was forced to pull out due to injury, while Gavi was not selected, with La Roja being cautious when it comes to his fitness due to the length of time that he spent on the sidelines.