The 18-year-old has been a key player for the Catalan giants during the 2020-21 campaign, making 43 appearances in all competitions, contributing three goals and six assists in the process.
The youngster's current deal at Camp Nou is due to expire next summer, although the club have the option of activating an additional two years on the agreement.
However, the report claims that Barca have no interest in allowing the attacker to leave and have now offered him a new four-year contract.
Ronald Koeman's side are said to be keen to include a £350m release clause in the proposed new deal in order to protect his value moving forward.
Pedri has been involved in all 29 of Barca's La Liga matches this season, making 21 starts.