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Manager Unai Emery has held talks with Aston Villa's hierarchy about the club's "long-term strategic direction".
Emery has been linked with Manchester United in recent weeks as a result of Michael Carrick facing pressure given the Old Trafford club's results.
The day after Villa lost in this season's Champions League for the first time - going down 3-0 at Barcelona - Emery met with chairman Nassef Sawiris, president of football operations Roberto Olabe and director of football operations Damian Vidagany.
The club said they had discussed "commitment beyond 2029", when Emery's current deal is set to expire.
"Aston Villa held an important working meeting today to plan the club's future and lay the foundations for its long-term sporting and institutional project," the club said.
"The discussions focused on jointly planning the club's long-term strategic direction, with positive discussions establishing a clear commitment beyond 2029 for the joint development of the club under the sporting leadership of Unai Emery based on the shared ambitions and common goal to reach excellency and keep growing during the next years."
Emery joined Villa in October 2022 and has guided the club to Europa League glory in 2026 and Champions League football in two separate campaigns.
The club added: "The objective is clear: to build an ambitious, competitive Aston Villa capable of taking on the biggest challenges and achievements."