When Barcelona hosts Sevilla in their final La Liga game of the season on Sunday, Xavi will assume captaincy for the final time.
The 44-year-old, whose contract was set to expire in 2025, met with sporting director Deco and club president Joan Laporta on Friday to hear the club’s decision.
Former Spain player Xavi declared in January that he was leaving Camp Nou, but in April, Laporta convinced him to stay.
Xavi’s recent remarks, in which he disclosed the club’s financial difficulties, are purported to have infuriated Laporta.
Barcelona expressed their gratitude to Xavi for his efforts.