The new deal will keep the 23-year-old at Barcelona until the summer of 2016 and the forward’s buy-out clause has increased from €90million to €150million.
Pedro’s previous deal was set to expire in the summer of 2015.
Barcelona confirmed the new deal in a statement: “Barcelona FC communicates to have reached an agreement with Pedro Rodriguez to improve and extend his contract with the club for another season until June 30, 2016.
“The recissionary clause rises from €90 million to €150m.”
