Arsenal boss Arsene Wenger has agreed a new two-year contract, extending his 21-year reign at the club.
Wenger and club owner Stan Kroenke met on Monday to determine the Frenchman's future, with the decision relayed to directors at a Tuesday board meeting.
Arsenal are planning to make an official announcement on Wednesday.
The Gunners were fifth in the Premier League this season, the first time they have finished outside the top four since the Frenchman joined in 1996.
They finished 18 points behind champions Chelsea, but beat the Blues 2-1 to win the FA Cup at Wembley on Saturday.
Wenger's contract was set to finish at the end of the current campaign.