Former Barcelona midfielder Xavi has reportedly already agreed to become the Catalan outfit's new head coach at the end of the 2019-20 campaign.
Setien's long-term future at the club is the subject of much speculation, though, with Barca currently playing catch-up to Real Madrid in the race for the La Liga title.
According to Mundo Deportivo, 'a firm agreement' is in place for Xavi to replace Setien this summer, with the legendary midfielder set to receive a £5.4m-a-year deal at Camp Nou.
The Spaniard left Camp Nou for Al Sadd in 2015 and has since become the Qatari side's head coach.
However, it is understood that Xavi is heading back to Spain for the 2020-21 campaign, and the decision has allegedly been given the seal of approval by Lionel Messi.
Barca are currently second in La Liga, four points off leaders Real Madrid, who will have the chance to open up a seven-point advantage at the summit when they travel to Athletic Bilbao on Sunday afternoon.