The 31-year-old - on loan from Liverpool - began his career with the Catalan giants as a youngster and has repeatedly been touted as a successor to Valdes, who is poised to quit the club next summer after the expiration of his current deal.
Valdes was heavily linked with a move to Monaco throughout the off-season and Reina's father, Miguel, has revealed that the club were preparing for life after the Barca shot-stopper by recruiting his son.
"A few months ago Pepe was in talks with Barcelona. They had an agreement and he was all set to go," he told Minuto 116
"But in the end Victor Valdes did not leave. That's why the transfer fell through."
Reina, who has made 11 appearances for the Naples-based club this season, has admitted that he is unlikely to return to Anfield beyond the end of his loan spell, having previously cast doubt on his Liverpool future