Spanish newspaper Sport reported that the Catalan club is preparing a huge offer to renew Iniesta's contract, which expires on June 30, 2018.
The 32-year-old Spaniard, who started and grew up at Barca, said recently that he had been waiting for a meeting with Barcelona directors to renew his contract.
Iniesta underlined that he wants to end his career at the Catalan club, reports Efe.
The Barcelona icon spent 20 years at the club, where he won all possible titles including La Liga, Copa del Rey, Champions League, among others.
He is one of the key starters with Barca and Spain. In the international arena, he has also won the World Cup and the European championship with the national team.
The Spanish paper added that Barcelona will offer Iniesta a contract that he can choose the length of, in addition to having a new role after retirement, to serve as a representative of the club, a youth coach or an assistant with the first team.