The England international recently entered the final 18 months of his current deal at Old Trafford, which has seen uncertainty surrounding his future spike.
Rooney was heavily linked with a summer switch to Chelsea after growing frustrated with life at United, but the Premier League champions held firm to keep their man.
However despite his return to form, speculation regarding an end of season switch to the Blues has continued to populate gossip columns over the course of the last few months.
But it is now understood that Rooney is ready to end the uncertainty by putting pen to paper on a new contract.
It is said that United are willing to hand him a massive £300,000-per-week salary to keep him as they plan to build a new era at the club.
Negotiations between the player and members of the board have been bubbling away in recent weeks, and Rooney is believed to be encouraged by their eagerness to keep him and the long-term plans afoot.
Chelsea could still mount a bid, while there is also talk of interest from Real Madrid.