Vicente del Bosque has verbally agreed a two-year contract extension with the Spanish national side.
The former Real Madrid coach succeeded Luis Aragones in 2008, shortly after the European Championship crown had been captured.
He has been able to maintain that momentum since taking the reins, guiding Spain to the 2010 World Cup with a 100 per cent record.
His current deal is set to expire after next summer's tournament in South Africa, but Del Bosque has made it clear that he would welcome the opportunity to continue past that point.
Spanish Football Federation president Angel Maria Villar has now revealed that an offer has been made, with an agreement reached in principle.
"I spoke with Del Bosque about the prospect of renewing his contract for two more years and he expressed his agreement," said Villar.
"We have not signed the contract renewal, but his word is important. We have full confidence in our coach, as can be seen from the results so far."
Del Bosque has previously announced that he intends for his role with the national side to be his last coaching post.
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