The 21-year-old England star's current deal is due to expire next summer but United can take up an option to extend it to 2021.
And they will, according to The Sun, who claim that Real Madrid and Barcelona are both interested in signing Rashford.
United want to tie Rashford down to a longer deal so activating his extension clause will buy them time and kill fears he could leave on a free transfer in 2020.
Rashford and United have been in contract talks in recent months but have yet to agree terms.
The Sun quote a United source as saying: 'We will trigger the option in his deal some time during this summer window.
'He is not being sold to anyone under any circumstances though despite talks going on for a fair while now.
'We know there's lots of interest in him, that's obvious. They'll also be sizeable offers for him as well.
'We're confident he wants to sign but we have to be firm and we expect this all to be sorted in the next few weeks.'
MailOnline
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