The Chilean international, who was of transfer interest to Bayern Munich, Paris Saint-Germain and Real Madrid this summer, will reportedly extend his agreement until June 2018.
Tuttosport suggest that the midfielder’s agent, Fernando Felicevich, will touch down in Italy on Monday or Tuesday of next week for talks.
The ex-Bayer Leverkusen man will also be handed an increase in salary from a basic €2.7m a season to €4m a campaign.
Juventus are also working on renewals for Paul Pogba (present deals ends 2016), Giorgio Chiellini (2015), Claudio Marchisio (2016), Sebastian Giovinco (2015) and Stephan Lichtsteiner (2015).
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