Both the BBC and The Telegraph have reported that the English striker is set to become one of the highest-paid players on the books at United.
Rashford is close to signing a new five-year deal, with the terms of the agreement set to reflect his importance at the club. Rashford's new wage will not match Alexis Sanchez's £391,000-a-week deal but will see him earn around £250,000 a week.
United had become alerted to interest in the player from Barcelona, Real Madrid and even Manchester City, but there is growing confidence they have done enough to tie the 21-year-old down to extended terms.
Rashford is seen as central to Ole Gunnar Solskjaer's plans, having been at the club since the age of seven and come through the academy. The Englishman has scored 45 goals in 170 appearances since his debut in February 2016. He's also won 32 caps for England.
An official announcement is expected before the 2019/2020 season kicks off.