The 24-year-old forward has proven himself to be a key player under Erik ten Hag at the start of the 2022-23 season, contributing three goals and two assists in six matches.
The Red Devils are ready to reward his impressive run of form with a new long-term deal as the England international has less than a year left to run on his contract at Old Trafford.
The Premier League giants do have the option of extending his existing contract for a further year.
The striker’s future looked in doubt over the summer after reports surfaced linking him with a move to Ligue 1 champions Paris Saint-Germain.
Rashford, who has less than 10 months left on his current, may be rested for the Premier League encounter in a trip to Crystal Palace on the weekend.