The Spain star is expected to agree the terms to a new deal by the New Year, as Barcelona look to secure his long-term future.
Manchester United had reportedly been tracking developments with a view to a move if Iniesta indicated his willingness to leave the Nou Camp.
But it appears he's set to agree terms, which would effectively signal his desire to spend the rest of his career at the club.
The fact that his current deal expires in the summer of 2015 had attracted interest from some of Europe's top clubs. Along with United, reports claimed Paris St Germain were also monitoring the talks.
Iniesta's current contract is worth £6.8m after tax - an effective weekly wage of £130,769.
He's reportedly after £9.1m-a-year, which equates to around £175,000-a-week. That would put him closer to the club's current highest earners - Neymar and Leo Messi.
Iniesta has held off on signing a new deal since the start of the season, but the club remains confident his first-choice remains Barcelona.
The Spain international has been a key figure in two of the best teams of the past 20 years - Pep Guardiola's Barcelona and Vicente Del Bosque's World Cup winning Spain side.