The Monegasque driver’s current deal expires at the end of next season but the Scuderia are keen to tie their main man down to a bumper fresh extension.
Italian outlet Gazzetta dello Sport report that Leclerc has agreed a new contract, with his salary starting at €25m (£21m) and due to rise to €50m (£43m) by the final year in 2029.
The report also details that performance-related exit clauses would be enforced after three years, so following the 2027 season.
An announcement of the new deal is set to be “imminent.”
Leclerc made his Ferrari debut in 2019 after spending his rookie season in F1 with Sauber in 2018.
The 26-year-old has won five times for Ferrari but has not claimed a victory since July 2022. With 23 pole positions in total, he has the most pole positions in F1 history without winning a world title.
He came second in the drivers’ championship last year as his title tilt against Max Verstappen fell away, while he finished fifth in 2023.
Meanwhile, Gazzetta adds that Ferrari talks are ongoing with Carlos Sainz, whose deal also runs out at the end of 2024.
The Spaniard is said to want a two-year deal, with the Scuderia considering their long-term options – including Lando Norris – for their second seat.
Sainz has been linked with Red Bull, Audi (who join as a new manufacturer in 2026) and a return to McLaren.
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