Bale has formed a deadly strike team with Cristiano Ronaldo (right) and Karim Benzema
Real Madrid have recently given new deals to Luka Modric and Toni Kroos but Bale was the man president Florentino Perez was desperate to keep at the club and Bale will be presented as the player the club intends to build its future around at a press conference at the Santiago Bernabeu on Monday.
The new contract will put an end to any lingering interest from Manchester United. Ed Woodward had already written off the club's chances of signing Bale next summer because Real Madrid's transfer ban would prevent them buying a replacement.
But the length of the contract underlines Real's intention of making Bale their new flagship player for long after Cristiano Ronaldo retires.
Sportsmail understands Ronaldo remains the club's top earner and will have his own deal extended in the coming days as Real complete an overhaul of contracts in the face of their transfer ban.
Bale will confirm his commitment to Real at a Bernabeu press conference on Monday
But significantly Bale now moves above Neymar. Bale's back-and-forth pay rivalry with the Brazilian looks set to eventually replace the top-earner battle that has taken place between Ronaldo and Messi for the last six years.
Neymar was rewarded with a new deal in July to ward off interest from Paris Saint-Germain. He signed his new contract last week amid admissions from France that the Ligue One champions had tried to steal him away from Barca.
Real Madrid president Perez became more determined than ever to keep Bale after his performances at Euro 2016 made him one of the players of the tournament and a candidate for next January's Ballon d'Or.
A bonus for winning football's ultimate individual prize is understood to have been included in the new six-year deal.
GARETH BALE'S CAREER AT REAL MADRID...SO FAR
Transfer: Arrived from Tottenham Hotspur on 2013 summer transfer deadline day for a then world record £85million
Games: 135
Goals: 62
Assists: 48
Trophies: Champions League winner in 2013-14 and 2015-16, as Real beat city rivals Atletico Madrid in the final both times. Has also won the 2013-14 Copa del Rey, the 2014 UEFA Supercup and the 2015 FIFA Club World Cup.
Bale has won the Champions League twice with Real - in 2014 and 2016 - but not La Liga
SPAIN'S BIG EARNERS
Cristiano Ronaldo (Real Madrid) £19m
Lionel Messi (Barcelona) £19m
Gareth Bale (Real Madrid) £18m
Neymar (Barcelona) £15m
All figures are net (post-tax) annual salaries
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