Porto striker Jackson Martinez is to sign a new contract with the club, the Daily Star quotes his agent as saying.
Martinez, 27, has been linked with a transfer to Premier League sides Arsenal and Chelsea, with both clubs thought to be in the market for a forward.
The Colombia international has been in impressive form for Porto this season, scoring nine goals in 12 appearances for the club.
With his current contract due to expire in 2016, and reportedly including a 34 million pound release clause, Martinez's agent Luis Manuel Manso has said he is set to commit to Estadio do Dragao.
"It is OK, I will travel to Porto next week to discuss the renewal. There is already an agreement to renew," Manso said.
Martinez had recently been quoted as saying: "I cheered for Arsenal when I was a kid -- I love their style of play.
"It’s flowing and open with a lot of first touch passes. It would be suitable for a player like me.
"If I get a chance to play for a high level club like Arsenal I wouldn’t hesitate to accept it."