Raheem Sterling has signed a three-year contract renewal agreement in Manchester City, which will oblige him to sign a contract worth up to £ 300,000 per week by 2023.
The previous deal of the 23-year-old English striker in Etihad Stadium should expire at the end of next season.
It is understood that the new contract will make Sterling one of the highest-paid English players in the Premier League.
"I am pleased that I can sign, my development here is incredible," said Sterling.
"I felt I was here from the start, that it was the right choice for me, it paid off and I'm really thankful."
Sterling, who scored seven goals for the club this season, joined City in 2015 from Liverpool.
He scored 23 goals last season as the blues won the Premier League and Carabao Cup.
He scored 46 caps against England twice in the past month – his first international goals in three years.
Txiki Begiristain, city director of football, said: "This is a momentous moment for the club, Raheem has improved dramatically in the past two years and is one of the best strikers in the Premier League today, with statistics that tell their own story.
"He's fast, strong and excellent in front of the finish – everything a modern striker needs to excel."