The Spanish side hoped to convince the 21-year-old to sign a deal until 2028 but have had to settle for a shorter renewal.
Real Madrid are very close to reaching an agreement with Vinicius Junior over a new contract, GOAL can confirm.
The winger still has two years left on his current deal, but the Spanish champions hope to convince him to commit to a longer stay.
The 21-year-old played a starring role as Madrid won La Liga and the Champions League in 2021-22, scoring 22 goals and making 16 assists in 52 games across all competitions.
The two parties have all but reached an agreement over an extension for the Brazili international.
Sources have told GOAL that the deal is 95 percent completed, with only small details still to be worked out.
Madrid had initially hoped to tie him to a deal that would run until 2028, but have had to settle for a shorter commitment as the player wished.
Vinicius is currently on holiday in the United States, but once he returns he will meet with the club to seal the agreement with president Florentino Perez.
Vinicius’ only intention was to extend his stay at Santiago Bernabeu as he feels at home in the Spanish capital.
Madrid were eager to improve his contract after an excellent season in Carlo Ancelotti’s side to ensure he remains for years to come, especially as he is currently one of the lowest-paid members of the first team with a salary of around €3.5 million.
The club are also set to raise his release clause by a significant amount to scare off any potential suitors.