The Italy international has established a reputation as one of Europe's top lynchpins during his 10 years at the Parc des Princes, albeit while being bedevilled by injuries.
Verratti left Pescara in 2012 to join PSG for a €12m (£10.4m) fee, and the 30-year-old has since amassed 11 goals and 61 assists in 398 games for Les Parisiens.
Verratti has won eight Ligue 1 titles, six Coupe de France crowns, six Coupe de la Ligues and nine Trophee des Champions titles since arriving in France, and he was also a part of Italy's Euro 2020-winning squad.
The midfielder has remained an integral cog in the PSG machine since Christophe Galtier took charge in the summer, setting up one goal in 20 matches and starting 14 Ligue 1 games.
Verratti has missed a further 96 matches through injury or illness since the start of the 2015-16 season, though, and his contract at the Parc des Princes is due to expire in the summer of 2024.
However, journalist Fabrizio Romano now reports that the Italian will put pen to paper on a new four-year deal to keep him with the Ligue 1 champions until the end of the 2025-26 campaign.
Romano adds that Verratti never considered leaving PSG and only wanted to stay with the capital club, and official confirmation of his new deal should arrive "very soon".
PSG boosted their midfield ranks over the summer with no fewer than four new faces, and Verratti has tended to partner up with recent arrival Vitinha in the heart of Galtier's midfield.
The former Pescara youngster has kept Carlos Soler, Fabian Ruiz and Renato Sanches in reserve, and recent reports have suggested that PSG could even be willing to sell the former amid links with Arsenal.
Verratti's new deal comes after PSG agreed a lucrative new contract with Kylian Mbappe until 2025 earlier this year, and Nasser Al-Khelaifi is now expected to prioritise Lionel Messi's future.
The seven-time Ballon d'Or winner struggled for goals in his debut Ligue 1 season - netting just six times - but he already has 12 goals and 14 assists under his belt from 19 outings in all tournaments this term.
Messi could leave PSG as a free agent when his contract expires at the end of the season, and he has been frequently linked with a return to Barcelona, whom he left in 2021 due to their financial problems.
However, PSG are reportedly planning to offer Messi a new deal following the World Cup, with Argentina set to take on the Netherlands in Friday's quarter-final.
Galtier's side have won 13 and drawn two of their opening 15 Ligue 1 games to sit five points clear of Lens at the top of the table, and they will take on Strasbourg in their first competitive game back on December 28.
Prior to the visit of Les Coureurs, PSG will take on Paris FC in a friendly on December 16 before also hosting Quevilly at Camp des Loges on December 21.