Barcelona prodigy Ansu Fati has signed a new two-year contract with the club, which will keep him at the Camp Nou until at least the summer of 2022. 

The 17-year-old has exploded into Ernesto Valverde's first-team plans this season, and Barcelona confirmed their latest star agreed new terms on Wednesday, via the club's official website.

A statement from Spanish champions read: "FC Barcelona and Ansu Fati have reached an agreement to improve the player's contract through to 30 June 2022, extendable by two further seasons, and his buyout clause has been raised from 100 to 170 million euros."

The teenager's buyout clause will rise further to €400 million ($443 million) if he signs a professional contract and becomes a permanent member of the first-team squad.

Fati offered his thoughts after committing his future to the club:

"For me, La Masia is the best school in the world. They helped me from the first day I arrived and I am extremely grateful to everyone who works there. They are all spectacular. From the first day I have learned things from everyone. And they have also been there to support me through difficult times."

"Working every day with the best is a dream, and also a reward. From now onwards, what I have to do is keep working, even harder than ever, to keep getting chances and carryon on enjoying myself. The rest will come after."

The Barca academy graduate has endured a meteoric rise this season after being thrust into first-team action at the start of the campaign due to injuries in attack.

Fati came on to score his first professional goal in a 2-2 draw at Osasuna in August. He followed up with another strike on his full debut when the Blaugrana defeated Valencia 5-2 in the following game:

Aside from adjusting the guaranteed length of his contract, the new deal will see Fati's earnings increase substantially. 

Club de la Mitjanit (h/t AS) previously reported his salary would depend on his status in the team: €300,000 (£266,500) per year if he's in Barca's B team, or €1 million (£888,000) if he stays in the first team.

ESPN FC highlighted why it's easy to envision the player bedding himself in among Valverde's first-team ranks:

Barcelona's decision to hand Fati a new contract—considering there was no immediate threat of the player leaving the club—hints at the importance they've placed on his future being with them.

The starlet may get his next opportunity to demonstrate his talents when Barca face Real Mallorca in La Liga on Saturday.