Pietro Fittipaldi will remain a reserve driver at Haas in 2020.
"If I continue with Haas, I want to have a bigger role," the 23-year-old, who is the grandson of F1 legend Emerson Fittipaldi, said last month.
Now, Denmark's BT newspaper - with sources at the American team for whom Dane Kevin Magnussen races - said Fittipaldi's new deal is done.
Haas raced with a black and gold livery last year due to the ill-fated title sponsorship with a now departed British energy drink.
As for Haas' 2020 colours, a team spokesman said: "You'll have to wait and see."
BT newspaper also said Haas' 2020 car will be officially unveiled on the morning of the first day of winter testing, in Barcelona on February 19.