Zubizarreta has been in the role since 2010 and has played a key role in bringing a number of the club's first-team players to Barca.
"Andoni Zubizarreta will continue as sporting director until the end of the 2015-16 season after the club announces on Thursday the renewal of his contract," a statement on the club's official website said.
"Barcelona and the sporting director have agreed to extend the contract binding the two parties, which had been due to expire on June 30, 2014, for a further two years until June 30, 2016.
"The signing of the new contract will take place in the coming days."
Txiki Begiristain was the club's sporting director until July 2010.