The Slovenian has been one of the best keepers in the world over the last few years, and keeping him at the La Liga club will have been a priority for the Spanish giants.
That said, Oblak was not at his best last season and will be determined to improve next year.
According to Fabrizio Romano, the player has signed a deal with the Spanish giants until the summer of 2025, and the official announcement is expected to be made soon.
Apart from his quality as a keeper, Oblak is one of the leaders of Diego Simeone’s dressing room and keeping him at the club will come as a boost to the players as well.
Atletico Madrid had an underwhelming season by their standards last year, and they will be looking to win the title again next year. Oblak could be a key player for them in their quest for silverware.
The new deal will see the player receive a wage bump and manager Simeone was instrumental in his renewal. Despite his uncharacteristic displays last season, the Argentine manager wanted the club to secure his long-term future.
The deal should be announced before the start of the new season.
The 29-year-old has won the Spanish League, Europa League, UEFA Super Cup and the Spanish cup during his time at Atletico Madrid so far. He will be looking to add to that tally, having sorted out his future now.
Meanwhile, Atletico will be without star striker Luis Suarez next season.