The 32-year-old's current deal expires at the end of the season and he has been locked in talks with the Barca hierarchy in recent weeks over an extension.
On Sunday, Abidal aired his wish to end his playing career at Camp Nou, amidst reports that Paris Saint-Germain were closely monitoring his situation.
"There is a 90 per cent chance I will stay with Barcelona," he told Canal Plus after his side's 3-2 victory against AC Milan in the Champions League. "I had a meeting with the board today [Wednesday].
"We reached an agreement, and the only thing left is to sign the contract. Then, the adventure with Barca can continue."
The France international, who joined Barcelona from Olympique Lyonnais in 2007, has made 18 appearances so far this season.
Starting last Friday and continuing every Friday through to January, Goal.com will publish extracts from Graham Hunter's highly-anticipated book, Barca: The Making of the Greatest Team in the World, which kicked off with a fascinating segment on Lionel Messi's rise to the top at Camp Nou. Don't miss it!