The Italian, who guided the Samurai Blue to the 2011 Asian Cup, has allegedly put pen to paper on a new deal to lead the Japanese to the 2014 World Cup
According to sources from within the JFA, the Italian's term at the helm of the Samurai Blue will be extended by one year, with another one-year extension contingent on the team reaching the 2014 World Cup.
Zaccheroni's previous contract was due to expire in August, but his extension means he will lead the team throughout 2014 World Cup qualifying as well as the 2013 Confederations Cup in Brazil.
The Italian took over Japan following the 2010 World Cup, beginning his tenure with a 1-0 win against a Lionel Messi-led Argentina that October. Just five months later, 'Zac Japan' captured the 2011 Asian Cup after defeating Australia in extra time.
The former Juventus manager has lost just twice in 24 matches with Japan, who lead Asia's Group B with seven points in the final stage of qualifying for Brazil.
The 23rd-ranked Fifa nation will next host Venezuela in an August friendly before resuming their World Cup campaign against Iraq in September.