The Spanish midfielder has been at Old Trafford for five seasons, and has become an important part of the club as a midfield workhorse.
Reports suggest that Barcelona are still interested in signing Herrera after they unsuccessfully tried to bring him to Catalunya over the summer.
Despite the interest, it is thought that the former Athletic Bilbao player is keen on staying in the Premier League with the 'Red Devils'.
The 'Daily Mail' report that talks have been held between the club and Herrera's representatives, but that the proposed two-year contract extension is not close to being finalised.