The 21-year-old has scored 10 goals in 38 appearances for Barça after making his first-team debut in a 1-0 victory over CE L’Hospitalet in the Spanish Cup in November 2011.
Tello, who came through Barça’s famed La Masia academy, has long been linked with a move to the Reds, with Brendan Rodgers rumoured to be a keen admirer of the winger.
His future at Camp Nou was in doubt under Tito Vilanova, but he appears to have won over the new manager, with the winger producing a man-of-the-match display in a 3-2 home win over Spartak Moscow in the Champions League in September.
A Barcelona statement read: “Barcelona announce they have reached an agreement with the player Cristian Tello to extend his contract until June 30, 2016. His buy-out clause has been set at €10m.
“The player will sign his contract on Monday, December 17, in the Barcelona offices.”
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