The 30-year-old centre back began his career as a junior with the Catalan side, and after a few years in England with Manchester United, he returned to Barca in 2008.
"FC Barcelona and player Gerard Piqué have reached an agreement to renew the player's contract through to 30 June 2022".
The club says the deal will be formalized in the coming days. He has been part of both historic Barcelona trebles (2008/09 and 2014/15) and is also a three-time FIFA Club World Cup victor.More news: First Minister Sturgeon: Brexit deal will decide second referendum on Scottish independence
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Pique, who was just 10 years of age when he first joined Barça's famed La Masia academy, now has a buyout clause set at €500m.
At Barca he counts 37 goals from 422 appearances and has won three Champions Leagues, six LaLiga titles, five Copa del Reys, five Spanish Supercopas, three European Supercups and three Club World Cups as well as the World Cup with Spain in 2010.
The Spain global, 30, has played 422 games for the Catalan club since rejoining from Manchester United in 2008.
Pique will continue at Barcelona until 2022.