Speaking to French newspaper L'Equipe last week, Umtiti said: "It is clear that I want to renew my contract at Barcelona and I hope to be with the team next season".
Barcelona were concerned Umtiti's clause would be met amid reported interest from Manchester United, and therefore, according to ESPN FC, negotiated a £437m (€500m) release clause in the latest version of his agreement with the club.
However, in recent weeks he has reiterated his desire to remain at Barcelona and on Sunday the Catalan club announced that an agreement had been reached for him to extend his stay.
"The act of signing will take place Monday, at 10 a.m.in the Camp Nou, and later the player will speak to the media".
He is now preparing for the World Cup as part of France's 23-man squad where he is expected to partner Real Madrid's Raphael Varane.
"The player, born in Yaounde in 1993, arrived at the club in 2016 from Lyon and in only two seasons has become an indispensable player in the Barca defence".
In that time, he has won one La Liga title as well as two Copas del Rey.
He was on target in Les Bleus 3-1 win against Italy on Friday, with Antoine Griezmann and Ousmane Dembele also on the scoresheet.