"Sergio Ramos until 2017," blared the paper's front page headline.
According to Marca, the 24-year-old player's contract extension would take effect from the next 2011-2012 season.
Ramos, part of Spain's World Cup-winning squad, would enjoy an increase in his salary from three million euros a year to 4.5 million euros, it said.
The extension to his existing contract, which expires 2013, would be finalised in the next few months, the paper said.
Madrid bought Ramos from Sevilla for 27 million euros in 2005.
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