The 21-year-old's previous deal was due to expire at the end of the 2012-13 campaign, and both parties had been in talks over a new and improved deal, eventually leading to a three-year extension that was confirmed on the club's official website.
A minimum release clause of 10 million euros has been included in his new contract, and Tello is due to put pen to paper on the deal at the Barcelona headquarters on Monday.
Tello is a product of the Barcelona youth academy and also played for Damm and Espanyol before returning to the Camp Nou side in the summer of 2010. The Spain Under-21 star made his official first team debut in the Copa del Rey match against Hospitalet in November 2011, and has made 16 official appearances for Barca this term, scoring three goals in the process.
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