If he closes the deal, it will mean that the former defender has been in charge of the Three Lions for eight years – the oldest manager since Sir Bobby Robson in the 1980s.
south gate, and his assistant Steve Holland, both 51, have signed to extend their contracts ahead of the World Cup in Qatar next year.
The pair’s tenure to manage the team saw England reach the World Cup semi-final in 2018 and the Euro 2020 final earlier this year.
Following the announcement, Southgate said: “I am delighted that Steve and I have been able to extend our stay in our respective roles. It remains an incredible privilege to lead this team.
“I would like to take this opportunity to thank Mark [Bullingham, FA chief executive), John [McDermott, FA technical director] and the board for their support – and of course the players and the support team for their hard work.
“We have a big opportunity ahead of us and I know they and the fans are all excited about what this team could accomplish in the future. “
Speaking at a press conference, Southgate was asked if he had been tempted to play a role at a club.
He said: “We have only won one World Cup but we have to believe that it is possible, it is a goal that we have as a team.
“Walking away when you think that the next few years could have been exciting, it could be difficult to live. If this contract is the last, I will only be 53 at the end and I hope there will be many. of my life at the end! “
Mr Bullingham said: “Gareth and Steve have built a very strong culture with the players and the support team and are in the best position to move this young team forward.
“Success comes with revised expectations. We used to celebrate qualifying, now we hope to reach the final stages.
“People will ask how we can afford it, but I will say it’s a performance increase. Gareth and Steve care about the organization. We are delighted that Gareth and Steve have chosen to continue. “
The FA said in a statement: “Southgate, who marks five years at the helm at the end of this month, has overseen a period of positive progress leading England to a FIFA World Cup semi-final and third place in the UEFA Nations League before securing the best men’s performance in 55 years with the UEFA Euro final this summer.
“The new deal means Southgate and his assistant Holland will lead England to the 2022 World Cup, for which the qualification was secured earlier this month, before leading the team to advance to the Euro 2024, which will begin in March 2023. “
Reacting to the news, former England and Chelsea captain John Terry said: “Great news for @England, I love what Gareth and Steve Holland are doing. “
Analysis by Tom Parmenter, Sports correspondent
There is a clear line of progress if you look at the five years Gareth Southgate has had as head of England.
The days of Sven Goran Eriksson and the WAGS, the umbrella of Steve McLaren, the uncompromising regime of Fabio Capello and Roy Hodgson’s loss to Iceland all seem distant.
Southgate has ruled England with honesty, integrity and values. The results showed that it worked.
A 2018 World Cup semi-final, third in the Nations League and the biggest moment in English men’s football since 1966 – missed penalties in the Euro final last summer.
More than the results, Southgate created a team that (more often than not) brought credit to the nation – exactly what a national team should be.
The World Cup in Qatar is now a year away and Southgate has the security of knowing that the work he has done to transform English football has been recognized with another big contract.
Under Southgate, they will be contenders – that’s what he achieved.